Goa receives 450 crores from Central government to accelerate capital welfare and developmental activities

The Central government granted Goa Rs. 450 crores in two installments of the tax devolution to the state. The funds are provided to the state to help accelerate the capital welfare and developmental activities. The released tax devolution by the Union government that is provided to the state government amounts to Rs. 1,16,665 crore as against normal monthly devolution of Rs. 58,333 crore in accordance to the statement issued by the Finance Ministry. Chief Minister Dr Pramod Sawant extended his gratitude to Prime Minister Narendra Modi along with the Finance Minister Nirmala Sitharaman for releasing the two installments for tax devolution.

He further thanked them on twitter, “The additional resources shall enhance the government of Goa’s development.” Every year the Centre releases 14 installments of tax devolution. Therefore, it involves two months where the installments are doubled. The states of India had to decrease their capital expenditure in the first six months of the current fiscal so that they could accommodate a higher revenue spending.
Amidst the quarrel between the Centre and the state for more resources, the 15th Finance Commission of India chaired by NK Singh is learnt to have recommended that states get 41% of central tax revenues, the same level that it proposed in its interim report for 2020-21, a year ago.

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