States Get ₹81,735 Crore Tax Boost | Latest News
News Context
At a glance
- The Union government has sanctioned an additional ₹81,735 crore installment of tax devolution to state governments, the Ministry of Finance announced Friday.This tax devolution aims to bolster state...
- The funds, supplementing the standard monthly tax devolution, are slated for release on June 2, 2025.
- State governments are expected to utilize the tax devolution funds to support various development and welfare programs.
Union Govt Approves ₹81,735 Cr Tax Devolution to States
The Union government has sanctioned an additional ₹81,735 crore installment of tax devolution to state governments, the Ministry of Finance announced Friday.This tax devolution aims to bolster state finances.
The funds, supplementing the standard monthly tax devolution, are slated for release on June 2, 2025. The regular monthly installment of ₹81,735 crore will follow on June 10, 2025. This additional tax devolution should provide states with greater financial adaptability.
What’s next
State governments are expected to utilize the tax devolution funds to support various development and welfare programs.