 "Nirmala Sitharaman")
Union Finance Minister Nirmala Sitharaman on Monday said the Centre would release double the monthly amount of tax devolution -- a total of Rs 95,082 crore -- in November to enable the states to step up their capex and spur economic growth close to double digits this fiscal year.
The states were to be given Rs 47,541 crore in November in line with the 15th Finance Commission’s formula of devolving 41 per cent of central taxes to the states, Sitharaman told reporters after a meeting with chief ministers and finance ministers of states, and lieutenant governors of Union Territories.
“The
