Global Statistics

All countries
704,753,890
Confirmed
Updated on July 17, 2024 2:36 pm
All countries
560,567,666
Recovered
Updated on July 17, 2024 2:36 pm
All countries
7,010,681
Deaths
Updated on July 17, 2024 2:36 pm

Global Statistics

All countries
704,753,890
Confirmed
Updated on July 17, 2024 2:36 pm
All countries
560,567,666
Recovered
Updated on July 17, 2024 2:36 pm
All countries
7,010,681
Deaths
Updated on July 17, 2024 2:36 pm
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Centre devolves Rs 3.09 lakh cr to states till July

As of July in the current fiscal year, the Central government has allocated more than Rs 3.09 lakh crore to states out of the planned Rs 10.21 lakh crore, according to Minister of State for Finance, Pankaj Chaudhary. He confirmed in the Lok Sabha that four installments, including a doubled amount in June 2023, have been disbursed to states, totaling Rs 3,09,521.22 crore by July 2023. Chaudhary emphasized that there are no outstanding payments to be made to states.

Out of the Rs 3.09 lakh crore allocated, Rs 94,368 crore from Central GST collections has been distributed to states until July. This distribution is in line with the recommendations of the 15th Finance Commission, ensuring that states receive 41% of the divisible tax pool of the Centre from 2021-22 to 2025-26, consistent with the 14th Finance Commission’s suggestions.

In response to a separate query, Chaudhary highlighted the positive impact of the Goods and Services Tax (GST) system. He noted that GST has streamlined taxation, reduced the overall tax burden, and significantly increased transparency. The number of registered taxpayers has surged from approximately 54 lakhs before the GST regime to around 1.46 crore under the current GST framework.

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