GUWAHATI: Assam has been granted an additional tax devolution amounting to ₹4446 crore. This allocation aims to empower state administrations in financing various social welfare programs and infrastructure development schemes.
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The Union Government authorized the release of two installments of tax devolution totaling ₹1.42 lakh crore to provide further support to state governments. This release supplements the earlier tax devolution installment of ₹71,061 crore disbursed on February 12, 2024.
With this recent release, states have collectively received three installments of tax devolution in February 2024. Tax devolution, as outlined in Article 280 (3) (a) of the Constitution of India, is a crucial responsibility of the finance committee, which distributes the net tax proceeds among the central and state governments.
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Apart from Assam, other Northeastern states have also received tax devolution installments. Arunachal Pradesh received ₹2497 crore, Manipur received ₹1018 crore, Meghalaya received ₹1090 crore, Mizoram received ₹711 crore, Nagaland received ₹809 crore, Tripura received ₹1006 crore, and Sikkim received ₹551 crore.
