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Centre releases tax devolution worth Rs 1,09,019 crore to boost capex, development of state govts
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morungexpress.com
New Delhi, August 1 (IANS): The government on Saturday said it has released additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which is in addition to the normal monthly devolution to be released on August 10.
Uttar Pradesh, the nation's most populous state, got the highest -- Rs 19,208 crore, followed by Bihar (Rs 10,845 crore), Madhya Pradesh (Rs 8,010 crore), West Bengal (Rs 7,866 crore), Maharashtra (Rs 7,022 crore), and Rajasthan (Rs 6,460 crore).
Andhra Pradesh (Rs 4,597 crore), Odisha (Rs 4,819 crore), Tamil Nadu (Rs 4,466 crore), Karnataka (Rs 4,504 crore), and Jharkhand (Rs 3,660 crore) also received significant additional tax devolution.
In October last year, the Union government released an additional tax devolution of Rs 1,01,603 crore to state governments.
Net tax receipts during the April-June quarter recorded a robust increase to Rs 6.4 lakh crore from Rs 5.4 lakh crore in the corresponding period last year, indicating sustained growth in direct and indirect tax inflows despite global economic uncertainties.