Centre releases ₹2,597 crore to Kerala as ‘additional instalment’ of tax devolution to boost capital spending
The Union government said on Saturday (August 1) that it has released ₹2,597 crore to Kerala as an “additional instalment” of the tax devolution to
The Union government said on Saturday (August 1) that it has released ₹2,597 crore to Kerala as an “additional instalment” of the tax devolution to the State to boost capital spending. This money is in addition to the routine monthly devolution which will be released on August 10, according to the Union Finance Ministry.
Saturday’s decision, the Ministry said, is in line with the Centre’s commitment to strengthen the finances of States to accelerate their capital and developmental expenditure. The tranche for
Kerala is part of ₹1,09,019 crore distributed among States as “advance instalment” from the net proceeds of Union taxes and duties to step up capital and developmental expenditure
on Saturday (August 1). At present, 41% of the taxes collected by the Centre is devolved to the States is multiple installments over the course of a year.
The BriefWire