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Government of india Sanctions ₹1.39 Lakh Crore Tax Redistribution to States for June

( NTI) : On Monday, the central authority sanctioned the disbursement of ₹1,39,750 crore in tax devolution to the states for June. The finance ministry declared that in addition to the customary allocation for June 2024, an auxiliary instalment will be provided.

The ministry articulated that this measure will empower state governments to hasten development and capital expenditure.

“The Interim Budget 2024-25 encompasses a provision of ₹12,19,783 crore for the devolution of taxes to States,” it affirmed.

Presently, 41% of the taxes amassed by the central government are apportioned to states in 14 instalments throughout the fiscal year.

With this release, the cumulative amount devolved to States till 10 June 2024 stands at ₹2,79,500 crore.

State-wise Tax Devolution as of June 10, 2024:

  1. Andhra Pradesh: ₹5,655.72 crore
  2. Arunachal Pradesh: ₹2,455.44 crore
  3. Assam: ₹4,371.38 crore
  4. Bihar: ₹14,056.12 crore
  5. Chhattisgarh: ₹4,761.30 crore
  6. Goa: ₹539.42 crore
  7. Gujarat: ₹4,860.56 crore
  8. Haryana: ₹1,527.48 crore
  9. Himachal Pradesh: ₹1,159.92 crore
  10. Jharkhand: ₹4,621.58 crore
  11. Karnataka: ₹5,096.72 crore
  12. Kerala: ₹2,690.20 crore
  13. Madhya Pradesh: ₹10,970.44 crore
  14. Maharashtra: ₹8,828.08 crore
  15. Manipur: ₹1,000.60 crore
  16. Meghalaya: ₹1,071.90 crore
  17. Mizoram: ₹698.78 crore
  18. Nagaland: ₹795.20 crore
  19. Odisha: ₹6,327.92 crore
  20. Punjab: ₹2,525.32 crore
  21. Rajasthan: ₹8,421.38 crore
  22. Sikkim: ₹542.22 crore
  23. Tamil Nadu: ₹5,700.44 crore
  24. Telangana: ₹2,937.58 crore
  25. Tripura: ₹989.44 crore
  26. Uttar Pradesh: ₹25,069.88 crore
  27. Uttarakhand: ₹1,562.44 crore
  28. West Bengal: ₹10,513.46 crore

During its inaugural Cabinet conclave, the Modi 3.0 government divulged strategies to support the construction of 3 crore rural and urban dwellings via the Pradhan Mantri Awas Yojana (PMAY). This initiative, inaugurated in 2015-16, has already enabled the construction of 4.21 crore homes for the underprivileged.

The announcement added that all homes built under PMAY are endowed with essential amenities such as household toilets, LPG connections, electricity connections, functional household tap connections, and more, achieved through synergy with other schemes from both central and state administrations.

Nirmala Sitharaman continues her tenure as the finance minister in Modi 3.0, with the BJP retaining pivotal infrastructure ministries including railways, highways, ports, and shipping. The top four ministries remain unchanged, with Rajnath Singh as defence minister, Amit Shah overseeing home affairs, and S Jaishankar handling external affairs. The aviation ministry now lies with the NDA ally TDP, while the MSME ministry is assigned to Hindustani Awan Morcha.