In a significant boost to Tripura’s financial resources, the state has been allocated Rs 837 crore as part of the third instalment of tax devolution from the Central government. The amount, which includes an advance instalment, was released on Monday to expedite capital spending, finance development and welfare-related expenditures, and support priority projects and schemes.
The Union Government, in a recent Press Information Bureau (PIB) release, announced the disbursement of the third instalment of tax devolution to State Governments. The total amount disbursed across all states amounts to a whopping Rs 1,18,280 crore, compared to the usual monthly devolution of Rs 59,140 crore.
The additional advance instalment, alongside the regular June 2023 instalment, aims to provide states with the necessary resources to accelerate their developmental agenda. The move is expected to bolster capital investments, strengthen initiatives for the welfare of citizens, and facilitate progress on crucial projects.
The State-wise allocation of net proceeds from Union Taxes and Duties for June 2023 indicates that Tripura will receive an impressive sum of Rs 837 crore. This injection of funds will undoubtedly support the state’s aspirations for growth and development.
With this substantial financial infusion, Tripura can now focus on addressing various socio-economic challenges, implementing key development programs, and uplifting the standard of living for its residents. The state government can strategically allocate these resources to critical sectors, such as infrastructure development, healthcare, education, and social welfare.
This latest allocation demonstrates the Central government’s commitment to empowering states and providing them with the necessary financial backing to accelerate progress. As Tripura embraces this boost in resources, the people can look forward to a brighter and more prosperous future.
