Govt releases Rs 72,961 crores to states as tax devolution, Uttar Pradesh receives highest amount

The Government on Friday said it has released Rs 72,960 crores ($8.8 billion) to states as tax devolution for financing various social welfare measures and infrastructure development schemes.

The instalment of Rs 72,961.21 crore was already released on December 11, while the now announced instalment is in addition to the tax devolution installment which is due to the states on January 10 next year, as per a release.

“In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional instalment of tax devolution amounting to Rs 72,961.21 crore to strengthen the hands of State Governments for financing various social welfare measures and infrastructure development schemes,” the government's statement read.

Uttar Pradesh topped the list in terms of the amount, at Rs 13,089 crores, followed by JDU and RJD coalition-led Bihar at Rs 7,338 crores.

Madhya Pradesh, which got a new chief minister after BJP won elections for the second consecutive time, received a payout of Rs 5,727 crores. Mamata Banerjee-governed West Bengal was fourth, receiving Rs 5,489 crores.

BJP-led Maharashtra and Rajasthan received Rs 4,609 crores and Rs 4,396 crores respectively.