Union Finance Minister Nirmala Sitharaman.
| Photo Credit: ANI
The government on March 11 released the 14th instalment of tax devolution of more than ₹1.40 lakh crore to States.
“The Union Government has released the 14th instalment of tax devolution to State Governments amounting to ₹1,40,318 crore today, as against normal monthly devolution of ₹70,159 crore,” the Finance Ministry said in a statement on March 11.
This is in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure, it read.
Uttar Pradesh received the highest instalment of ₹24,783 crore among all States.
