Maharashtra gets Rs 6,418 crore advance instalment of tax devolution from Centre

Mumbai: 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, Deputy Chief Minister Ajit Pawar has said.

The Centre on Wednesday said it has 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/welfare-related expenditure.

This is in addition to the normal monthly devolution of Rs 81,735 crore due to be released on October 10, it said.

In a statement on Thursday, Pawar, who is also the state finance and planning minister, said that Maharashtra has received Rs 6,418 crore from the Centre.

He 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," Pawar said.