Team Herald
PANJIM: The Central government on Thursday released two installments of tax devolution totaling to Rs 450 crore to Goa to help accelerate their capital expenditure and welfare activities.
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The Union government has released tax devolution to state governments amounting to Rs 1,16,665 crore as against normal monthly devolution of Rs 58,333 crore, as per the statement issued by Finance Ministry.
CM Pramod Sawant thanked PM Narendra Modi and Finance Minister Nirmala Sitharaman for releasing the additional installment for tax devolution. He tweeted “The additional resources shall enhance the government of Goa’s development.”
The Union Ministry in the statement issued said, “This is in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure.”
Currently, 41% of taxes collected by the Centre is devolved in 14 installments among states in a fiscal year.
