Authorities releases 2 tranches of tax devolution

NEW DELHI: Authorities has authorised launch of two installments of tax devolution amounting to Rs. 1.4 lakh crore on Thursday to strengthen fingers of state governments for financing numerous social welfare measures and infrastructure improvement schemes. This launch is along with tax devolution of an installment of Rs 71,061 crore made on February 12. With this launch, states have acquired whole of three installments of tax devolution in February, in accordance with the finance ministry.Uttar Pradesh will obtain Rs 25,495 crore, adopted hy Bihar which can get Rs 14,295 crore. Madhya Pradesh will receiver Rs 11157 crore and West Bengal Rs 10,692 crore. The discharge of the tex devolution comes forward of the nationwide elections more likely to be held in April-Could.

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