Meghalaya today received Rs 729.28 crore as part of two installments of tax devolution released by the Centre.
It may be noted that the amount released is part of two installments of tax devolution to states totalling to Rs 95,082 crores as against normal monthly devolution of Rs 47,541 crores.
The amount was released as assured by Union Finance Minister Nirmala Sitharaman after the virtual meeting with chief ministers, finance ministers of states, and lieutenant governors of union territories on November 15 to step up investment, infrastructure and growth.
The tax devolution was released to the states to help them mobilise resources for stepped up capital investment and infrastructure development.
Of the total amount released, poll-bound Uttar Pradesh has received the maximum amount of Rs 17,056.66 crore while Bihar received a sum of Rs 9563.30 crore.
Madhya Pradesh has received Rs 7463.92 crore, while West Bengal got Rs 7152.96 crore. Maharashtra received Rs 6006.30 crore.
It may be mentioned that the 15th Finance Commission had recommended that 41 per cent of the taxes collected by the Centre be shared with the states.