India News | Centre Authorises Release of Tax Devolution of Rs 72,961 Cr to States

New Delhi, Nov 7 (PTI) The Centre on Tuesday authorised release of tax devolution of Rs 72,961.21 crore to states for November.

"The Union Government has authorised the release of tax devolution of Re 72,961.21 crore to State Governments for the month of November 2023, on 7th November instead of the usual date 10th November," the Union finance ministry said in a statement.

Also Read | Bombay High Court Dismisses Jet Airways Founder Naresh Goyal's Plea Against 'Illegal Arrest' in Canara Bank Loan Fraud Case.

This will enable the state governments to make in-time releases and add to the festivities and celebrations among the people, it added.

Currently, 41 per cent of taxes collected by the Centre is devolved in 14 instalments among states during a fiscal year.

Also Read | CAT 2023 Exam Admit Card Out at iimcat.ac.in: Hall Ticket for Common Eligibility Test Examination Released, Know Steps To Download.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)