The Union government has released two tax devolution instalments amounting to ₹1,16,665.75 crore on August 10, 2022 to state governments as against normal monthly devolution of ₹58,332.86 crore in the effort to strengthen states to accelerate capital and developmental expenditure
"Govt. releases 2 tax devolution instalments to State Govts. of ₹1,16,665.75 Cr. as against normal monthly devolution of ₹58,332.86 Cr This is in line with GOI commitment to strengthen States to accelerate capital & developmental expenditure," the Union Finance Ministry tweeted.
As per the statewise distribution of Net proceeds of Union taxes and Duties for August 2022, the Centre has released ₹ 83,534 crore for Manipur.
This devolution of taxes will enable Manipur to accelerate its capital and developmental expenditure, Manipur Chief Minister N Biren Singh said.
"I thank GoI under the leadership of our Hon’ble Prime Minister Sh@narendramodi Ji and Hon’ble Finance Minister Smt@nsitharaman ji, for their continued support to Manipur. This devolution of taxes will enable Manipur to accelerate its capital & developmental expenditure," Biren tweeted on Wednesday.
