Centre releases ₹1,78,173 crore tax devolution to States, including an advance instalment
On 10 October 2024, in India, the Union Government released tax devolution of ₹1,78,173 crore to State Governments, including one advance instalment of ₹89,086.50 crore.
Summary
On 10 October 2024, in India, the Union Government released tax devolution of ₹1,78,173 crore to State Governments, against the normal monthly devolution of ₹89,086.50 crore. The amount includes one advance instalment in addition to the regular October 2024 instalment, released in view of the festive season and to help States accelerate capital spending and finance development and welfare expenditure. Uttar Pradesh received the largest share, ₹31,962 crore, followed by Bihar with ₹17,921 crore.
Key facts
- Date
- 10 Oct 2024
- Total released
- ₹1,78,173 crore
- Normal monthly devolution
- ₹89,086.50 crore
- Why
- Festive season; capital spending by States
- Largest shares
- UP ₹31,962 cr; Bihar ₹17,921 cr
Practice MCQs 3 questions
How much tax devolution did the Union Government release to States on 10 October 2024?
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Correct answer: D — ₹1,78,173 crore
Finance Ministry via PIB (10 Oct 2024): the Union Government released tax devolution of ₹1,78,173 crore to State Governments on 10 October 2024.
Which state received the largest amount in the tax devolution released on 10 October 2024?
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Correct answer: B — Uttar Pradesh
PIB state-wise table (10 Oct 2024): Uttar Pradesh received ₹31,962 crore, the largest, followed by Bihar with ₹17,921 crore.
Consider the following statements about the tax devolution released on 10 October 2024: 1. It included one advance instalment in addition to the regular instalment due in October 2024. 2. Bihar received the largest share among the States. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct; statement 2 is wrong. PIB (10 Oct 2024): the release includes one advance instalment in addition to the regular October 2024 instalment; Uttar Pradesh (₹31,962 crore) received the largest share, with Bihar (₹17,921 crore) second.