Centre funds: 1892.64 Cr to AP, 982 Cr to Telangana

Centre funds: 1892.64 Cr to AP, 982 Cr to Telangana

The Centre on Monday released Rs 46,038 crore to all states so that they can enhance their resources to deal with the challenges in fighting the deadly Covid19 pandemic.

The Union Ministry of Finance sanctioned April month's instalment of devolution of State's share in central taxes and duties, much ahead of schedule. While the Uttar Pradesh received highest share of Rs 8255.19, Telugu states Andhra Pradesh and Telangana have received 1892.64 Cr and 982 Cr respectively. This comes at a time when several states are struggling with shortage of funds due to massive dip in tax collections due to lockdown.

The Finance Ministry has followed the recommendations of XV Finance Commission in allocating share between states. Also, calculation of net proceeds of shareable taxes has been kept unchanged as per 2020-21 Budget to assist the States in fighting outbreak of novel Coronavirus.

Earlier this month, Narendra Modi-led goverment released an aid of Rs 17,287 Cr to states, allowing them to utilise these funds for setting up of quarantine centres, sample collection zones and the testing laboratories. While AP received 559.5 Cr funds under 15th Finance Commission’s recommendations, 224 Cr was allocated to Telangana from the State Disaster Risk Management Fund (SDRMF).

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