Nagaland receives INR 524 crore in additional tax devolution from the Centre as part of an INR 1.09 lakh crore release
DIMAPUR — Nagaland has received INR 524 crore from the Centre as part of an additional tax devolution of INR 1,09,019 crore to states, announced by the Union government on October 31.
The Ministry of Finance stated that the release was the second additional instalment of tax devolution in the current financial year, over and above the regular monthly transfer to states.
The additional funds are intended to help states step up capital expenditure and meet development and welfare-related spending, particularly ahead of the festive season, it added.
Among the north-eastern states, Assam received the largest share at INR 3,552 crore, followed by Arunachal Pradesh with INR 1,476 crore. Tripura was allocated INR 699 crore, Meghalaya INR 688 crore, Manipur INR 682 crore, Mizoram INR 615 crore, Nagaland INR 524 crore and Sikkim INR 365 crore.
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Nationally, Uttar Pradesh received the largest allocation at INR 19,208 crore, followed by Bihar with INR 10,845 crore and Madhya Pradesh with INR 8,010 crore.
The release was announced by the Ministry of Finance on October 31.