After 700 cr on PMAY-G now Tripura is getting 673 cr more from Centre

Agartala: Earlier, Prime Minister Narendra Modi has transferred the first installment of Pradhan Mantri Awas Yojana-Gramin (PMAY-G) to more than 1.47 lakh beneficiaries of Tripura of 700 crore . Now an additional tax devolution of 673 crore has been released to Tripura.


The Centre released two installments of tax devolution to the states amounting to Rs 95,082 crore in November, the Finance Ministry said on Tuesday. Earlier this month, FM Sitharaman had said that the Centre would release additional devolution funds that were due to the States to enable them to spend more on capital expenditure.

 

After a meeting with all chief ministers and state finance ministers recently, Union Finance Minister Nirmala Sitharaman had said the Centre will double the amount of November tax devolution by including one advance instalment.

Currently, 41 per cent of the tax collected is devolved in 14 instalments among states during a fiscal. The increased amount of devolution in November is an advance release, and final adjustments will be made in March 2022.

Uttar Pradesh will be the highest recipient of the row with Rs 17,057 crore, followed by Bihar (Rs 9,563 crore), Madhya Pradesh (Rs 7,464 crore), West Bengal (Rs 7,153 crore) and Maharashtra (Rs 6,006 crore).