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Business
Meghalaya Receives Rs 688 Crore in Latest Tax Devolution Payment
✍️ The Times of India
🗓 02 Nov 2026, 04:01 AM
👁 17
The central government has transferred Rs 688 crore to Meghalaya as part of the latest tax devolution installment.
The Union Finance Ministry has disbursed an instalment of Rs 688 crore to the state of Meghalaya under the ongoing tax devolution programme. This payment forms part of the regular fiscal transfers that the central government makes to states based on recommendations of the Finance Commission.
Tax devolution aims to share a share of centrally collected taxes with states, enabling them to fund development projects and meet routine expenditures. Meghalaya, one of the smaller northeastern states, receives the amount as its latest tranche, which will be added to the state's consolidated fund.
State officials expect the infusion to support ongoing infrastructure initiatives and social welfare schemes, while also bolstering the state's fiscal position ahead of the upcoming budget cycle.
Tax devolution aims to share a share of centrally collected taxes with states, enabling them to fund development projects and meet routine expenditures. Meghalaya, one of the smaller northeastern states, receives the amount as its latest tranche, which will be added to the state's consolidated fund.
State officials expect the infusion to support ongoing infrastructure initiatives and social welfare schemes, while also bolstering the state's fiscal position ahead of the upcoming budget cycle.