The Finance Ministry said the Centre has released two instalments of tax devolution to the State Governments amounting to Rs 95,082 crore on November 22 2021, as against normal monthly devolution of Rs 47,541 crore. Currently, 41 per cent of the tax collected is devolved in 14 instalments among states during a fiscal.
After a meeting with all chief ministers and state finance ministers recently, Union Finance Minister Nirmala Sitharaman had said the Centre will double the amount of November tax devolution by including one advance instalment to help states push their capital expenditure.
The increased amount of devolution in November is an advance release, and final adjustments will be made in March 2022. It added ‘Rs 95,082 crore of Tax devolution to strengthen fiscal space of States’.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: