PANAJI
Goa has netted a sizable Rs 450.32 crore as its share of Central taxes for the month of August giving the State government a much-needed boost to manage its finances. The Rs 450.32 crore the State received this month is part of the Rs 1.16 lakh crore the Centre's Finance ministry devolved to the States for August. A statement released by the Union Finance Ministry said two instalments of tax devolution to the State governments amounting to Rs 1,16,665,75 crore as against the normal monthly devolution of Rs 58,332.86 crore was made. "This is in line with the commitment of the Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure," the Finance Ministry's statement said. As mandated by the 15th Finance Commission, the share of the States in the Central taxes is fixed at 41% at the aggregate level. This share is devolved to the States in 14 instalments in a financial year.
