Centre approves ₹1.39 lakh crore tax devolution to states for June

The central government on Monday approved the disbursement of ₹1,39,750 crore in tax devolution to the states for June. The finance ministry announced that, in addition to the regular allocation for June 2024, an extra instalment will also be provided.

The ministry added that this will enable state governments to accelerate development and capital spending.

"The Interim Budget 2024-25 has a provision of ₹12,19,783 crore towards devolution of taxes to States," it states.

At present, 41% of the taxes collected by the central government are distributed to states in 14 instalments throughout the fiscal year.

With this release, the total amount devolved (for FY 2024-25) to States till 10 June 2024 is ₹2,79,500 crore.

Here is the state-wise tax devolution as of June 10, 2024:

1. Andhra Pradesh: ₹5,655.72 crore

2. Arunachal Pradesh: ₹2,455.44 crore

3. Assam: ₹4,371.38 crore

4. Bihar: ₹14,056.12 crore

5. Chhattisgarh: ₹4,761.30 crore

6. Goa: ₹539.42 crore

7. Gujarat: ₹4,860.56 crore

8. Haryana: ₹1,527.48 crore

9. Himachal Pradesh: ₹1,159.92 crore

10. Jharkhand: ₹4,621.58 crore

11. Karnataka: ₹5,096.72 crore

12. Kerala: ₹2,690.20 crore

13. Madhya Pradesh: ₹10,970.44 crore

14. Maharashtra: ₹8,828.08 crore

15. Manipur: ₹1,000.60 crore

16. Meghalaya: ₹1,071.90 crore

17. Mizoram: ₹698.78 crore

18. Nagaland: ₹795.20 crore

19. Odisha: ₹6,327.92 crore

20. Punjab: ₹2,525.32 crore

21. Rajasthan: ₹8,421.38 crore

22. Sikkim: ₹542.22 crore

23. Tamil Nadu: ₹5,700.44 crore

24. Telangana: ₹2,937.58 crore

25. Tripura: ₹989.44 crore

26. Uttar Pradesh: ₹25,069.88 crore

27. Uttarakhand: ₹1,562.44 crore

28. West Bengal: ₹10,513.46 crore

During its inaugural Cabinet session, the Modi 3.0 government unveiled plans to support the construction of 3 crore rural and urban households through the Pradhan Mantri Awas Yojana (PMAY). The initiative, which commenced in 2015-16, has already facilitated the construction of 4.21 crore homes for underprivileged individuals.

The release added that all houses built under PMAY are equipped with essential amenities such as household toilets, LPG connection, electricity connection, functional household tap connection, etc., achieved through collaboration with other schemes from both central and state governments.

Nirmala Sitharaman remains the finance minister in Modi 3.0, with the BJP retaining significant infrastructure ministries like railways, highways, ports, and shipping. The top four ministries, including Rajnath Singh as defence minister, Amit Shah overseeing home affairs, and S Jaishankar as external affairs minister, see no changes. The aviation ministry is now with the NDA ally TDP, while the MSME ministry goes to Hindustani Awan Morcha.