ENA Economy 2024-06-11 15:50:50 <p><span style="font-size:14px"><strong>New Delhi, Jun 11 (KNN)</strong> The Union Government has decided to release an additional instalment of tax devolution to State Governments this month, over and above the regular monthly disbursement for June 2024.</span></p> <p><span style="font-size:14px">This move will cumulatively amount to Rs 1,39,750 crore being transferred to States in the current month, a significant financial boost aimed at enabling accelerated development and capital expenditure by State Governments.</span></p> <p><span style="font-size:14px">The Interim Budget for the fiscal year 2024-25, presented earlier this year, had provisioned a total of Rs 12,19,783 crore towards tax devolution to States as per the prescribed constitutional arrangements.</span></p> <p><span style="font-size:14px">With the release of the additional instalment, the total amount devolved to State Governments for the current financial year until June 10, 2024 stands at Rs 2,79,500 crore.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38155 https://knnindia.co.in/news/newsdetails/economy/union-govt-announces-additional-tax-devolution-of-rs-139-lakh-crore-to-states 2024-06-11 15:50:50 knnindia.co.in