Centre Releases Rs 673.32 Crores To Tripura As Tax Devolution

 

  • Abhijit Nath, NET Correspondent, Tripura¬†

Agartala, January 20, 2022 : The central government has released a total of Rs 673.32 crore to Tripura in January 2022 to accelerate its capital and development expenditure for ameliorating the deleterious effects of the COVID-19 pandemic.

Meanwhile, a total amount of Rs 336.66 crore has been distributed as a regular monthly installment and Rs 336.66 as an advance installment in January 2022.

Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman has authorized the release of an advance installment of tax devolution to State Governments amounting to Rs. 47,541 crore, here on Thursday. This is in addition to the regular devolution for the month of January 2022, also being released today.

Thus, states would receive a total of Rs. 95,082 crore or double their respective entitlement during the month of January 2022. State-wise break-up of the amounts being released is appended.

Its pertinent to mention that the Government of India (GoI) had released the first advance installment of tax devolution amounting to Rs. 47,541 crore to States on 22nd November 2021. With the release of the second advance installment on Thursday, the States would have received an additional amount of Rs. 90,082 crore under tax devolution over and above what has been budgeted to be released till January 2022.

It also needs to be noted that release from the Government of India of the back-to-back loan amounting to Rs. 1.59 lakh crore to State Governments in lieu of GST Compensation shortfall in FY 2021-22 was completed by the end of October 2021.