Nation Current Affairs 20 Jan 2022 Centre releases tax ...

Centre releases tax due to states in advance

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Jan 20, 2022, 11:35 pm IST
Updated Jan 20, 2022, 11:35 pm IST
Telangana state received Rs 1,998 crore, two instalments of Rs 991.31 each, and Andhra Pradesh Rs 3,847 crore
Union Finance Minister Nirmala Sitharaman during a press conference at the National Media Centre, in New Delhi. (PTI Photo)
 Union Finance Minister Nirmala Sitharaman during a press conference at the National Media Centre, in New Delhi. (PTI Photo)

Hyderabad: In an unexpected relief to the states, the Centre on Thursday released tax devolution of two months, including one a month in advance, to overcome the financial crisis caused by Covid-19 and related restrictions. Accordingly, Telangana state received Rs 1,998 crore, two instalments of Rs 991.31 each, and Andhra Pradesh Rs 3,847 crore.

Union finance minister Nirmala Sitharaman authorised the release of Rs 47,541 crore advance tax devolution to all states, which is in addition to the regular devolution for January this year.

 

The tax devolution to Telangana till November end was Rs 8,466 crore. The state received Finance Commission Grants of Rs 1,251.13 crore till November-end and other releases of Rs 27,498.61 crore till October-end.

Telangana also received GST shortfall of Rs 2,380 crore for 2020-21 and Rs 4,569.49 crore for 2021-22 as loan from the Centre through a special GST compensation window.

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Location: India, Telangana, Hyderabad




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