Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New  Latest Cases 

Share:      

        Home        
 
News
Home News News and Press Release Month 1 2022 2022 (1) This
← Previous Next →
 

Finance Minister Smt. Nirmala Sitharaman authorises release of advance installment of tax devolution to State Governments amounting to ₹ 47,541 crore

January 20, 2022
  • Contents

Finance Minister Smt. Nirmala Sitharaman authorises release of advance installment of tax devolution to State Governments amounting to ₹ 47,541 crore

States receive a total of ₹ 95,082 crore during January 2022

With release of the 2nd advance installment, States receive an additional amount of ₹ 90,082 crore under tax devolution over and above budgeted amount

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman has authorised the release of an advance installment of tax devolution to State Governments amounting to ₹ 47,541 crore, here today. 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 ₹ 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.

It is pertinent to mention that the Government of India had released the first advance instalment of tax devolution amounting to ₹ 47,541 crore to States on 22nd November 2021. With the release of the second advance installment today, the States would have received an additional amount of ₹ 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 Government of India of the back-to-back loan amounting to ₹ 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.

This is in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure to ameliorate the deleterious effects of CoVID-19 pandemic.

STATEMENT SHOWING STATEWISE DISTRIBUTION OF NET PROCEEDS OF UNION TAXES AND DUTIES FOR JANUARY 2022

 
 

Sl. No.

State

Regular monthly installment

for Jan 2022

Advance installment

in Jan 2022

Total releases

in Jan 2022

 
 
 
 

1

Andhra Pradesh

1,923.98

1,923.98

3,847.96

 

2

Arunachal Pradesh

835.29

835.29

1,670.58

 

3

Assam

1,487.08

1,487.08

2,974.16

 

4

Bihar

4,781.65

4,781.65

9,563.30

 

5

Chhattisgarh

1,619.77

1,619.77

3,239.54

 

6

Goa

183.51

183.51

367.02

 

7

Gujarat

1,653.47

1,653.47

3,306.94

 

8

Haryana

519.62

519.62

1,039.24

 

9

Himachal Pradesh

394.58

394.58

789.16

 

10

Jharkhand

1,572.17

1,572.17

3,144.34

 

11

Karnataka

1,733.81

1,733.81

3,467.62

 

12

Kerala

915.19

915.19

1,830.38

 

13

Madhya Pradesh

3,731.96

3,731.96

7,463.92

 

14

Maharashtra

3,003.15

3,003.15

6,006.30

 

15

Manipur

340.40

340.40

680.80

 

16

Meghalaya

364.64

364.64

729.28

 

17

Mizoram

237.71

237.71

475.42

 

18

Nagaland

270.51

270.51

541.02

 

19

Odisha

2,152.66

2,152.66

4,305.32

 

20

Punjab

859.08

859.08

1,718.16

 

21

Rajasthan

2,864.82

2,864.82

5,729.64

 

22

Sikkim

184.47

184.47

368.94

 

23

Tamil Nadu

1,939.19

1,939.19

3,878.38

 

24

Telangana

999.31

999.31

1,998.62

 

25

Tripura

336.66

336.66

673.32

 

26

Uttar Pradesh

8,528.33

8,528.33

17,056.66

 

27

Uttarakhand

531.51

531.51

1,063.02

 

28

West Bengal

3,576.48

3,576.48

7,152.96

 

 

TOTAL 

47,541.00

47,541.00

95,082.00

 

 

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||