Representational image
| Photo Credit: Getty Images/iStockphoto
The government on Friday (May 30, 2025) approved an additional instalment of ₹81,735 crore as tax devolution to States, which will be released on June 2.
This release is in addition to the regular monthly instalment of tax devolution of ₹81,735 crore, which will be released on June 10, 2025.
“The Union Government has approved an additional instalment of ₹81,735 crore as Tax Devolution to the State Governments, which will be released on June 2, 2025,” the Finance Ministry said in a statement.
The additional instalment of devolution to States is in line with the principle of cooperative federalism and the aim of becoming ‘Viksit Bharat’ by 2047, it added.
#
“The additional instalment of devolution will enable the States to speed up their Capital spending, finance their development and welfare-related expenditure and also make available resources for priority projects/schemes of the States,” the Ministry said.
Currently, 41% of taxes collected by the Centre is devolved in instalments among States during a fiscal year.
Published – May 30, 2025 11:38 pm IST
Source: https://www.thehindu.com/business/Economy/additional-instalment-of-tax-devolution-to-be-released-to-states-on-june-2-finance-ministry/article69639367.ece
