Financial Boost for Assam: Centre Allocates ₹72,961.21 Crore as Additional Tax Devolution

News Reporter News Reporter
Friday, December 22, 2023
Financial Boost for Assam: Centre Allocates ₹72,961.21 Crore as Additional Tax Devolution
Aiming for Growth: The Significance of the Funds in Assam's Developmental Landscape
Guwahati, December 22, 2023: 
In a welcome development for Assam, the Ministry of Finance announced today the release of an additional installment of ₹72,961.21 crore as Tax Devolution to the state. This substantial financial allocation is strategically aimed at reinforcing Assam's financial capabilities, especially in light of the upcoming festivities and the approaching New Year.

This release follows a prior installment of ₹72,961.21 crore on December 11, 2023, highlighting the continuous support from the Central Government to enhance Assam's capacity for implementing social welfare measures and advancing crucial infrastructure projects.

Key Highlights for Assam:

- The state receives a significant boost to address various developmental needs.
- The funds are intended to fuel public investments and fortify ongoing welfare programs.
- Emphasis on capital projects underscores the commitment to long-term infrastructure development.

State-wise Breakdown of Additional Tax Devolution for Assam:

Assam: ₹2,282.24 crore

Chief Minister Himanta Biswa Sarma, responding to this financial injection, expressed his gratitude today on social media. He profusely thanked Hon’ble PM Shri Narendra Modi and Hon’ble FM Smt Nirmala Sitharaman for the release of the additional installment of devolution of tax funds. Sarma emphasized the positive impact this funding would have on public investments and the advancement of welfare programs, particularly in the realm of capital projects.

This significant financial infusion comes at a crucial time for Assam, providing the state with the necessary resources to execute vital projects and ensure the well-being of its citizens. As the funds are strategically utilized, Assam anticipates tangible improvements in infrastructure, healthcare, education, and other key sectors, fostering overall socio-economic growth.