Covid-19: Centre releases Rs 92077 crore to states in two months as part of central taxes: Finance Ministry

New Delhi, May 21: The Central Government has so far released a total of Rs 92,077 crore as an installment for the months of April and May as part of the states in central taxes. The Finance Ministry has informed about this by tweeting on Thursday.

Finance Minister Nirmala Sitharaman’s office said in a tweet that the government has released a total of Rs 92,077 crore as the state’s share in central taxes for two months between April and May 2020.

According to the ministry, this amount was Rs 46,038.10 crore for the month of April, while it was Rs 46,038.70 crore for the month of May.

The tweet released by the Finance Ministry states that the amount released is based on the estimates of receipts in the Budget Estimates 2020-21.

The Ministry has made it clear that this amount has not been given as per the actual tax receipts.

The Finance Ministry has said in its tweet that these steps have been taken to maintain the cash flow of the states during the time of Covid-19 pandemic.

It is worth mentioning that in the budget of FY 2020-21, the share of states in central taxes was estimated to be Rs 7.84 lakh crore.

At the same time, the 15th Finance Commission has recommended a share of 41 per cent for the states and 1 per cent for the newly created Union Territories of Jammu and Kashmir and Ladakh, while the 14th Finance Commission has recommended 42 per cent share in central taxes to the states.

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