Assam receives highest additional installment of Rs 2282.24 crore Tax Devolution among northeastern states

In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to strengthen the hands of State Governments for financing various social welfare measures and infrastructure development schemes.

Assam, among northeastern states, has received the highest additional installment of Tax Devolution, amounting to Rs 2282.24 crore. Sikkim, on the other hand, has received the lowest.

It is to be mentioned here that among the northeastern states, Arunachal Pradesh received Rs 1281.93, Manipur received Rs 522.41, Meghalaya received Rs 559.61, Mizoram received Rs 364.80, Nagaland received Rs 415.15 and Sikkim received Rs 283.10 and Tripura received Rs 516.56.

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This installment is in addition to the tax devolution installment due to States on 10 January 2024 and the installment of Rs 72,961.21 crore already released on 11 December 2023.

This latest instalment is in addition to the tax devolution instalment due to States on January 10, 2024, and the instalment of Rs 72,961.21 crore already released on December 11, 2023.

There has been a precedent where the central government has paid devolution to states in advance. One such advance instalment in addition to the regular instalment was released in June this year to enable states to speed up capital spending, finance their development, and welfare-related expenditure and also to make available resources for priority projects or schemes.