Union Finance Minister Nirmala Sitharaman said on Monday that the central government will release an amount of Rs 95,082 crore to the states this month as tax share. Sitharaman gave this information in a meeting with the Chief Ministers and Finance Ministers of the states. He told reporters that the amount given by the Center to the states as a share of the collected tax revenue will be double this time.
New Delhi . The central government will release an amount of Rs 95,082 crore to the states this month as tax share. Union Finance Minister Nirmala Sitharaman said on Monday that the Center will release this amount to help the states increase their capital expenditure. This will also include an upfront installment.
Sitharaman told reporters here after a meeting with state chief ministers and finance ministers that the amount given by the Center to the states as a share of the collected tax revenue will be doubled this time. The reason for this is that the states had requested the Center that getting one month’s advance payment would help them in capital expenditure
On November 22,
Sitharaman said, “I have asked the Finance Secretary that instead of giving the normal amount of Rs 47,541 crore to the states’ share, they should also be given one month’s advance installment on November 22.” In this way, Rs 95,082 crore will be released to the states on that day.
In the meeting, many suggestions were given from the states to increase investment. In this, it is important to create a transparent system for investment promotion.
