The Centre on June 10 decided to release an additional installment of the tax devolution share of States along with their due share for June 2024. Effectively, ₹1,39,750 crore is being transferred to States this month.
The move is seen as a goodwill gesture by the newly formed NDA government towards States, including its key alliance partners TDP and JD(U). June 10’s transfer to States, includes ₹14,056 crore for Bihar, and ₹5,655 crore to Andhra Pradesh.
“This will enable State Governments to accelerate development and capital spending,” the Finance Ministry said in a statement. With this release, the total amount devolved (for FY 2024-25) to States till June 10, 2024 is ₹2,79,500 crore, it added.