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As the country gears up for the festive season and the dawn of the New Year, the Union Government has taken a proactive step to bolster the financial capabilities of State Governments. An additional installment of tax devolution, totaling ₹72,961.21 crore, has been authorized with the objective of supporting various social welfare measures and facilitating the implementation of crucial infrastructure development schemes.
This supplementary installment is in addition to the standard tax devolution installment that states are slated to receive on January 10, 2024. Moreover, a previous installment of ₹72,961.21 crore was released on December 11, 2023, emphasizing the commitment of the Union Government to empower State Governments in their developmental endeavors.
The breakdown of the amount released to each state is outlined in the table below:
| Sl.No. | State | Amount (₹ in crore) |
|---|---|---|
| 1 | Andhra Pradesh | 2952.74 |
| 2 | Arunachal Pradesh | 1281.93 |
| 3 | Assam | 2282.24 |
| 4 | Bihar | 7338.44 |
| 5 | Chhattisgarh | 2485.79 |
| 6 | Goa | 281.63 |
| 7 | Gujarat | 2537.59 |
| 8 | Haryana | 797.47 |
| 9 | Himachal Pradesh | 605.57 |
| 10 | Jharkhand | 2412.83 |
| 11 | Karnataka | 2660.88 |
| 12 | Kerala | 1404.50 |
| 13 | Madhya Pradesh | 5727.44 |
| 14 | Maharashtra | 4608.96 |
| 15 | Manipur | 522.41 |
| 16 | Meghalaya | 559.61 |
| 17 | Mizoram | 364.80 |
| 18 | Nagaland | 415.15 |
| 19 | Odisha | 3303.69 |
| 20 | Punjab | 1318.40 |
| 21 | Rajasthan | 4396.64 |
| 22 | Sikkim | 283.10 |
| 23 | Tamil Nadu | 2976.10 |
| 24 | Telangana | 1533.64 |
| 25 | Tripura | 516.56 |
| 26 | Uttar Pradesh | 13088.51 |
| 27 | Uttarakhand | 815.71 |
| 28 | West Bengal | 5488.88 |
| TOTAL | 72961.21 |
This distribution of funds aims to empower states across the nation, enabling them to meet the financial requirements for crucial developmental initiatives. The Union Government’s proactive approach in providing additional financial support underscores its commitment to fostering growth and welfare at the state level.
This allocation is expected to play a pivotal role in advancing social welfare measures and catalyzing infrastructure development, contributing to the overall progress of the nation. The Union Government’s commitment to reinforcing state finances during the festive season reflects a concerted effort to ensure holistic development across regions.
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