The Central government today released the tax devolution to the tune of Rs 1, 73,030 crore to 28 states for the month of January, as against the devolution of Rs 89,086 crore in December 2024.
This will enable the state governments to accelerate capital spending and finance their development and welfare-related expenditures, the finance ministry said.
Of the total amount, the tax devolution released to Meghalaya was Rs 1327.13.
Among the North East states, Assam got the highest share at Rs 5412.38 crore followed by Arunachal Pradesh Rs 3040.14
Manipur got Rs 1238.90, Tripura Rs 1225.04 crore, Nagaland Rs 984.54 crore, Mizoram Rs 865.15 and Sikkim Rs 671.35.
Tax devolution refers to the distribution of tax revenues between the central government and the state governments. It is a constitutional mechanism established to allocate the proceeds of certain taxes among the Union and the states in a fair and equitable manner.
