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States get Rs 37,000 cr

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  6 April 2015 12:00 AM GMT

1st phase of devolution

NEW DELHI, April 5: The Union government has released more than Rs 37,420 crore to the states for the current fiscal as first instalment of devolution as per the 14th Fince Commission’s recommendation, with Uttar Pradesh getting the highest share.

“The Government of India has released more than Rs 37,420 crore to all the states for fincial year 2015-16 as the first instalment of devolution as per the 14th Fince Commission (FFC),” a fince ministry statement here said.

Uttar Pradesh has received the highest share at Rs 6,735.81 crore followed by Bihar at Rs 3,624.37 crore, Madhya Pradesh at Rs 2,835.75 crore, West Bengal at Rs 2,746.91 crore and Maharashtra at Rs 2,075.59 crore.

States getting the least funds include Sikkim at Rs 137.46 crore, Goa with Rs 141.51 crore, Mizoram at Rs 172.40 crore and galand at Rs 186.68 crore.

The 14th Fince Commission has recommended a record 10 percent increase in the states’ share in the divisible pool of taxes to 42 percent, which will give the states an additiol Rs 178,000 crore in 2015-16.

The commission also recommended a grants-in-aid of Rs 48,906 crore for 11 revenue deficit states for 2015-16.

The total devolution to the states in 2015-16 will be Rs 526,000 crore, representing an increase of Rs 178,000 crore over 2014-15.

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