Tax Devolution: Prime Minister Narendra Modi has formed the government in the country for the third consecutive time. On Monday, he has also divided the departments among his ministers. The command of the Finance Ministry has once again been handed over to Nirmala Sitharaman. With the formation of the NDA government, the Finance Ministry has sent more than Rs 1.39 lakh crore to the states for June 2024. This money has been released as an additional installment of Tax Devolution. More than Rs 25 thousand crore has been given to Uttar Pradesh. With the help of this money, many development schemes in the states will be able to gain momentum.
12 lakh crores were given in the interim budget
In the interim budget 2024-25 presented by Nirmala Sitharaman, a provision of Rs 12,19,783 crore was made for tax devolution to the states. With this additional Rs 1,39,750 crore, a total of Rs 2,79,500 crore has been given to the states for the financial year 2024-25 till June 10, 2024. This will enable the state governments to accelerate development and capital spending. Currently, 41 per cent of the total tax collected by the central government in a financial year is distributed among the states in 14 installments.
UP got more than Rs 25000 crore
According to the information given by the Finance Ministry, Uttar Pradesh has received the highest amount of Rs 25069.88 crore. Bihar is at second place. It has been given Rs 14056.12 crore. Madhya Pradesh is at third place with Rs 10970.44 crore.
Congress called this money the right of the states
Meanwhile, the Congress has condemned this decision and said that the central government is gaining popularity by giving the money that is the right of the states. Congress leader Jairam Ramesh said that this is not a prasad. This is not any special facility given to the states by the central government.
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