FinMin sanctions Rs 92,077 cr to states as devolution of central taxes

The Budget had projected the share of the states in taxes at Rs 7.84 trilllion for 2020-21.

The government on Thursday said it has released Rs 92,077 crore towards devolution of central taxes to states for April and May.

In a tweet, the Office of Finance Minister Nirmala Sitharaman said, "GoI has released a total amount of Rs 92,077 crore, as state's share in the devolution of central taxes and duties for the months of April and May 2020."

The devolution amount for April stood at Rs 46,038.10 crore, while for May, it is Rs 46,038.70 crore.

The tweet said that these