New Delhi: The government has approved the release of two installments of tax transfer. Rs 1.4 lakh crore on Thursday to strengthen the hands of state governments for funding various social welfare measures and infrastructure development schemes. This release is in addition to the tax transfer of Rs 71,061 crore made on February 12. According to the Finance Ministry, with this release, states have received a total of three installments of tax transfers in February.
Uttar Pradesh will get Rs 25,495 crore, followed by Bihar with Rs 14,295 crore. Madhya Pradesh will get Rs 11157 crore and West Bengal will get Rs 10,692 crore. The release of the Texas transfers comes ahead of national elections expected in April-May.