Kohima, 12th June, 2023: Central Government has released 1 lakh 18 thousand 280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of 59 thousand 140 crore rupees.

According to Finance Ministry, one advance instalment in addition to the regular instalment due this month is being released to States to enable them to speed up Capital Spending, finance their development or welfare related expenditure and also to make available resources for priority projects and schemes.

An amount of 673 crore rupees was released to Nagaland as 3rd instalment.