Team Herald
PANJIM: In an attempt to assist States in effectively addressing the situation arising out of COVID-19, the Centre on Tuesday released the April instalment of States’ share in central taxes amounting to over Rs 46,000 crore. Goa, which is in a financial crisis, has received its share of Rs 177.72 cr.
Sources in the State Finance Department said the money has been released ahead of schedule and as a special dispensation to meet immediate funding needs of State governments looking to restore economic activity and minimise losses to citizens due to disruptions caused by the lockdown.
“Ministry of Finance has issued sanctions for April instalment of Devolution of States’ Share in Central Taxes and Duties amounting to Rs 46,038.10 cr today,” the Finance Ministry tweeted. “The inter-se share is as per the recommendations of the XV Finance Commission,” it added.
While releasing funds to the States, the calculation of net proceeds of shareable taxes has been kept unchanged as per Budget 2020-21, the statement said.
As per a government statement, the highest share of central taxes for April has gone to Uttar Pradesh, followed by Bihar, West Bengal, Madhya Pradesh. Goa and Sikkim have got the least from the Central pool of taxes at Rs 177.72 crore and Rs 178.64 crore respectively.
