Centre releases additional tax devolution instalment worth Rs 1,09,019 crore to states amid festive season
New Delhi, Oct 31
The Union Government on Saturday released additional instalment of tax devolution worth Rs 1,09,019 crore to State Governments, which is in addition to the regular monthly devolution.
The release of additional instalment of tax devolution is in view of upcoming festive season and to enable States to accelerate capital spending and finance their development/welfare related expenditure, Finance Ministry said in a statement.
This is the second additional instalment in this financial year.
While Uttar Pradesh, the nation's most populous state, received Rs 19,208 crore, Bihar received Rs 10,845 crore, Madhya Pradesh received Rs 8,010 crore, West Bengal Rs 7,866 crore, Maharashtra Rs 7,022 crore and Rajasthan Rs 6,460 crore, among others.
In August, the government released additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which was in addition to the normal monthly devolution. The release was in line with the commitment of Government of India to strengthen the finances of states to accelerate their capital and developmental expenditure.
Meanwhile, India's fiscal deficit for the first six months (April-September) of the current financial year touched the Rs 7.14 lakh crore mark, which constitutes 42.1 per cent of the budget estimate for the full year, official figures showed.
The Centre has budgeted a fiscal deficit of Rs 16.96 lakh crore for the financial year 2026-27. Revenue receipts stood at Rs 17.57 lakh crore, which constitutes 49.7 per cent of the budget estimate. Of this, the net tax revenue was Rs 12.76 lakh crore, while non-tax revenue was Rs 4.81 lakh crore.
Net tax revenue rose to 44.5 per cent of the full-year estimate, compared with 43.3 per cent during the same period last year. Non-tax revenue increased to Rs 4.8 lakh crore, compared with Rs 4.7 lakh crore during the same period last year.
— IANS
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