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The Union Government has approved an additional instalment of Rs 81,735 crore as Tax Devolution to the State Governments, which will be released on June 2, 2025, the Ministry of Finance said in a post on X on Friday late evening.
This release is in addition to the regular monthly instalment of tax devolution of Rs 81,735 crore, which will be released on June 10, 2025. The additional instalment of devolution to States is in line with the principle of co-operative federalism and the aim of becoming 'Viksit Bharat' by 2047, which can be realised through 'Viksit States' as envisioned by Prime Minister Narendra Modi. "The additional instalment of devolution will enable the States to speed up their Capital spending, finance their development and welfare-related expenditure and also make available resources for priority projects/schemes of the States," the Ministry of Finance said in the X post. (ANI)
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