PANAJI
In a significant move to support the States ahead of the festive season, the Union government has released tax devolution of Rs 688 crore to Goa on Thursday. This also includes one advance instalment, in addition to the regular instalment due in October.
In total, the Centre has released Rs 1,78,173 crore to State governments across, with Uttar Pradesh getting the maximum Rs 31,962 crore. This release is in view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare-related expenditure.
Chief Minister Pramod Sawant expressed gratitude to Prime Minister Narendra Modi for the timely release of tax devolution funds, including an advance instalment in addition to the regular October 2024 instalment, amounting to Rs 688 crore for the State.
“These funds will significantly boost our ongoing efforts to accelerate infrastructure development, enhance social welfare programs and implement various State initiatives,” he said. “We shall be better equipped to drive Goa’s overall progress and growth,” the Chief Minister added.
In June, Goa had received Rs 539 crore towards tax devolution.
Tax devolution refers to the process of distributing tax revenue between the central and state governments. It is a constitutional mechanism designed to ensure a fair and equitable sharing of tax proceeds.
