Maharashtra Gets Rs 6,418 Crore Advance Instalment Of Tax Devolution From Centre

Maharashtra has received an advance instalment of Rs 6,418 crore from the Central government, as part of tax devolution ahead of the festive season, said Deputy Chief Minister Ajit Pawar.

On Wednesday, the Centre released an additional instalment of tax devolution of Rs 1,01,603 crore to state governments to enable them to accelerate capital spending and finance their development and welfare-related expenditure.

This amount is in addition to the regular monthly devolution of Rs 81,735 crore, which is scheduled to be released on Oct. 10, it said.

In a post on X on Thursday, Pawar, who is also the state finance and planning portfolio, confirmed that Maharashtra has received Rs 6,418 crore from the Centre under this devolution.

Pawar thanked Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for releasing the funds.

"With the upcoming festival season, and to enable the state to ramp up capital expenditure and provide adequate funding for our welfare and development schemes, this amount will undoubtedly prove beneficial for Maharashtra," he said.

"This amount will help us further boost our welfare schemes, and enhance our development initiatives, bringing joy and prosperity to each household of Maharashtra," he further wrote.

(With inputs from PTI)