New Delhi, 12 June (MTNews): The Central Government has released Rs1,18,280 crore as the third installment of tax devolution to State Governments, exceeding the normal monthly devolution of Rs. 59,140 crore.
According to the Finance Ministry, an additional advance installment was disbursed to states, along with the regular installment for the month. The objective was to accelerate capital spending, fund development and welfare-related expenditures, and provide resources for priority projects and schemes.
As part of the third installment, Nagaland received Rs 673 crore.