The advance release is part of a Rs 1.09 lakh crore devolution aimed at helping states accelerate infrastructure and welfare spending
Shillong: Meghalaya has received Rs 688 crore as part of the Centre’s advance tax devolution, aimed at helping states accelerate capital expenditure and development projects.
The Union Ministry of Finance on Saturday released Rs 1,09,019 crore to states as an additional instalment over and above the regular monthly tax devolution due on August 10. The Centre said the advance release would strengthen state finances and enable faster implementation of infrastructure and welfare programmes.
Among the northeastern states, Assam received the highest allocation at Rs 3,552 crore, followed by Arunachal Pradesh (Rs 1,476 crore). Meghalaya’s Rs 688 crore allocation was higher than Manipur (Rs 682 crore), Mizoram (Rs 615 crore), Nagaland (Rs 524 crore) and Sikkim (Rs 365 crore).
The Union government said the advance release would provide states with greater fiscal flexibility to maintain the pace of capital expenditure, considered a key driver of economic growth and employment.
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