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Tag: finance ministry

Politics

Uttarakhand CM Dhami thanks PM Modi, FM Sitharaman for releasing tax devolution fund to State | India News – Times of India

DEHRADUN: Uttarakhand chief minister Pushkar Singh Dhami has expressed his gratitude to Prime Minister Narendra Modi and finance minister Nirmala Sitharaman for releasing an amount of Rs. 1562.44 crore to Uttarakhand in the tax-transfer process.Furthermore, the chief minister also conveyed the usage of the fund and stated that the State government will successfully implement developmental schemes and operate new schemes with the help of these funds, provided by the ministry of finance.Taking to social media platform the Uttarakhand chief minister wrote in Hindi, "Heartfelt thanks to the successful Prime Minister Mr. @narendramodi and Finance Minister Mrs. @nsitharaman ji for releasing the amount of Rs. 1562.44 crore to Uttarakhand in the tax-transfer process. Through this amount, along ...
Politics

Centre to transfer extra instalment of taxes to states in June | India News – Times of India

NEW DELHI: Buoyed by healthy cash flows due to good revenue receipts so far this year, the centre on Monday decided to release an extra instalment of taxes that are transferred to the states. “This is a goodwill gesture as the tax collections have been good,” said an official, explaining the rationale while ruling out any cash crunch for some of the states.“It was decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released. This cumulatively amounts to Rs 1,39,750 crore in the current month. This will enable state governments to accelerate development and capital spending,” the finance ministry said in a statement.With this release, so far in the current financial year, the total amount devolved to states wa...