Bhubaneswar/New Delhi: Odisha has received an additional Rs 4,819 crore from the Centre as part of a special tax devolution of Rs 1,09,019 crore released to state governments to strengthen their finances and support capital as well as developmental expenditure.
The Ministry of Finance on Saturday said the additional instalment has been released over and above the normal monthly tax devolution due on August 10. The move, according to the Centre, is aimed at enabling states to accelerate infrastructure creation, development projects and welfare-related spending.
Among the states, Uttar Pradesh received the highest allocation of Rs 19,208 crore, followed by Bihar with Rs 10,845 crore, Madhya Pradesh with Rs 8,010 crore, West Bengal with Rs 7,866 crore, Maharashtra with Rs 7,022 crore and Rajasthan with Rs 6,460 crore. Odisha’s share of Rs 4,819 crore is among the significant allocations, alongside Andhra Pradesh (Rs 4,597 crore), Karnataka (Rs 4,504 crore) and Tamil Nadu (Rs 4,466 crore).
The Union government said the advance release reflects its commitment to strengthening the financial position of states so they can step up capital investment and meet developmental priorities.
A similar additional tax devolution of Rs 1,01,603 crore had been released in October last year, ahead of the festive season, to help states boost public expenditure and finance welfare programmes.
Meanwhile, data released by the Controller General of Accounts (CGA) showed that the Centre’s fiscal deficit stood at Rs 3.1 lakh crore during the April-June quarter of the current financial year, accounting for 18.2 per cent of the full-year Budget estimate. The fiscal deficit was higher than Rs 2.8 lakh crore recorded during the corresponding period of the previous financial year.
For FY27, the Centre has pegged the fiscal deficit at Rs 16.96 lakh crore, or 4.3 per cent of the country’s Gross Domestic Product (GDP), in line with its fiscal consolidation roadmap.
The CGA data also showed that net tax receipts rose to Rs 6.4 lakh crore during the first quarter, up from Rs 5.4 lakh crore in the same period last year, indicating healthy growth in both direct and indirect tax collections despite global economic uncertainties.
