Tripura has got Rs 673 crore as tax devolution even as the centre released two instalments of tax devolution to the states amounting to Rs 95,082 crore in November.
At present 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).
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.
