With this latest instalment, the total amount of tax devolution to states stands at Rs. 2,79,500 crore for the current fiscal year as of June 10, 2024.
Tax Devolution by Centre to States: In a significant financial move, the Centre has disbursed an instalment of Rs. 1,39,750 crore as part of the tax devolution to states. This recent release brings the total tax devolution to states to an impressive Rs. 2,79,500 crore for the fiscal year 2024-25 up until June 10, 2024.
The government has strategically decided to issue an additional instalment this month, apart from the regular June 2024 tax devolution amount. This dual release aims to bolster state governments by providing them with the necessary funds to expedite development projects and capital expenditures.
The Interim Budget for 2024-25 has earmarked Rs. 12,19,783 crore for the devolution of taxes to states, underscoring the government’s commitment to supporting state-level financial stability and growth. With this latest instalment, the total amount devolved to states stands at Rs. 2,79,500 crore for the current fiscal year as of June 10, 2024.
A detailed breakdown of state-wise releases is provided below to ensure transparency and accountability in the distribution of these funds.
State-Wise Tax Devolution Details:
| Sl.No. | State | Tax Devolved on 10th June, 2024 |
| 1 | Andhra Pradesh | 5655.72 |
| 2 | Arunachal Pradesh | 2455.44 |
| 3 | Assam | 4371.38 |
| 4 | Bihar | 14056.12 |
| 5 | Chhattisgarh | 4761.30 |
| 6 | Goa | 539.42 |
| 7 | Gujarat | 4860.56 |
| 8 | Haryana | 1527.48 |
| 9 | Himachal | 1159.92 |
| 10 | Jharkhand | 4621.58 |
| 11 | Karnataka | 5096.72 |
| 12 | Kerala | 2690.20 |
| 13 | Madhya Pradesh | 10970.44 |
| 14 | Maharashtra | 8828.08 |
| 15 | Manipur | 1000.60 |
| 16 | Meghalaya | 1071.90 |
| 17 | Mizoram | 698.78 |
| 18 | Nagaland | 795.20 |
| 19 | Odisha | 6327.92 |
| 20 | Punjab | 2525.32 |
| 21 | Rajasthan | 8421.38 |
| 22 | Sikkim | 542.22 |
| 23 | Tamil Nadu | 5700.44 |
| 24 | Telangana | 2937.58 |
| 25 | Tripura | 989.44 |
| 26 | Uttar Pradesh | 25069.88 |
| 27 | Uttarakhand | 1562.44 |
| 28 | West Bengal | 10513.46 |
| TOTAL | 139750.92 |
This financial initiative is expected to significantly enhance the fiscal capacity of state governments, enabling them to undertake more ambitious development initiatives and improve infrastructure, thereby driving economic growth at the regional level.
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