Centre Releases Rs.7,211 Cr to AP for Development, Welfare Works

Vijayawada:The Union Government released a tax devolution of Rs.7,211 crore for Andhra Pradesh on Thursday, out of the 1.78 lakh crore it released to 28 states during the festive season.

This is for taking up accelerated capital spending and to finance their development and welfare schemes.

The finance ministry said in a statement that the Centre “intends to ensure a steady flow of financial resources to the states to ensure them have the means to take up important development works.”

It released Rs.1.78 lakh crore by way of tax devolution amount to state governments against the normal monthly devolution of Rs.89,086.50 crore and included one advance installment.

Among 28 states that got a share each, Uttar Pradesh got the highest allocation of Rs.31,962 crore while Goa got the lowest of Rs.688 crore.

AP’s share of Rs.7,211 crore will be of much help to the state government as it aims to develop the capital city Amaravati, complete the Polavaram project, develop international airports etc on a priority basis.