Centre's Rs 682 crore advance tax devolution to boost Manipur's development: CM

Manipur Chief Minister Y Khemchand Singh on Saturday, August 1, said the Centre's advance tax devolution of Rs 682 crore will strengthen the state's development initiatives and accelerate its overall progress.

Expressing gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman, the chief minister said the timely financial assistance would provide a significant boost to ongoing developmental works.

In a post on social media, Singh thanked the Centre for releasing the advance tax devolution and said, "This timely support will significantly strengthen our development initiatives and accelerate the state's progress."

On behalf of the people of Manipur, the chief minister also conveyed his appreciation to the Union government for its continued support to the state.

The Centre on Saturday released an additional instalment of tax devolution amounting to Rs 1,09,019 crore to all state governments, over and above the normal monthly devolution scheduled for August 10.

According to an official statement, the advance release is aimed at strengthening the finances of states and enabling them to accelerate capital expenditure and developmental projects.

The additional allocation to Manipur is expected to support the state's infrastructure development and other priority sectors.