In view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare related expenditure, the Union Government has released tax devolution of Rs 1,78,173 crore to State Governments on October 10, 2024, as against the normal monthly devolution of Rs 89,086.50 crore.
It includes one advance instalment, in addition to the regular instalment due in October, 2024. According to the Ministry of Finance, Uttar Pradesh received Rs 31,962 crore, the highest amount disbursed to any state, followed by Bihar (Rs 17,921 crore), Madhya Pradesh (Rs 13,987 crore) and West Bengal (Rs 13,404 crore).
Other prominent beneficiaries include Maharashtra (Rs 11,255 crore) and Rajasthan (Rs 10,737 crore). Smaller states such as Goa and Sikkim received Rs 688 crore and Rs 691 crore, respectively. Besides, Andhra Pradesh received Rs 7,211 crore, while Arunachal Pradesh got Rs 3,131 crore.