Key Points
New Delhi [India], June 10 (ANI): Finance Ministry has announced the release of an additional installment of tax devolution to states for June 2024, in a move to support state finances and spur economic development..
This decision aims to provide states with the financial resources needed to accelerate their development projects and capital spending...
The additional installment of funds is part of a broader fiscal strategy outlined in the Interim Budget for 2024-25, which has allocated Rs 12,19,783 crore towards the devolution of taxes to states...
With the additional funds being released this month, the cumulative amount devolved to states for the fiscal year 2024-25 has reached Rs. 2,79,500 crore as of June 10...
As India continues to navigate the complexities of global economic dynamics, the central governments focus on providing robust financial support to states is crucial for sustaining growth and fostering development..
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