Govt releases advance instalment of Rs 1.78 lk cr for state govts amid festive season

The Union Government on Thursday released tax devolution of Rs 1,78,173 crore to State Governments, as against the normal monthly devolution of Rs 89,086.50 crore.

This includes one advance instalment, in addition to the regular instalment due in October, 2024.

"This release is in view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare related expenditure," said the govt press release.


More to come.