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New Delhi. Modi government took charge in the country from Monday. Modi 3.0 was seen in action as soon as he took charge. Yesterday, Prime Minister Narendra Modi first signed the official file of the 17th installment of PM Kisan Samman Nidhi Yojana. Today, the central government has released an installment of Rs 1,39,750 crore of Tax Devolution to the states.
This information was given by the Finance Ministry. The ministry said that this decision was taken to expedite the development projects of various states so that no project gets delayed due to the need for capital.
This state got more money
In the Interim Budget 2024-25 presented in March this year, there was a provision of Rs 12,19,783 crore for tax devolution to the states. According to the release issued today, now the total amount for the financial year 2024-25 is Rs 2,79,500 crore.
The Finance Ministry has distributed different amounts to all the states.
According to the release issued by the Finance Ministry, Uttar Pradesh has received the highest amount. The central government gave Rs 25069.88 crore to UP. Bihar comes second. The central government has given Rs 14056.12 crore to Bihar. Madhya Pradesh has been given Rs 10970.44 crore.
The Finance Ministry has provided a detailed state-wise breakup of the funds released, to ensure that each state gets its fair share to meet its specific development needs.
As India grapples with the complexities of global economic dynamics, the Central Government’s focus on providing financial support to the States is crucial to sustain the country’s growth and promote development.
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