BUDGET
FY25 transfer to states seen at 23.49 trln rupees, up 11.9%
This story was originally published at 17:15 IST on 23 July 2024
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--FY24 transfer to states revised to 20.990 trln rupees
--FY25 transfer to states seen at 23.490 trln rupees
NEW DELHI – The Budget today projected the total transfer to states and union territories in the current financial year ending March at 23.49 trln rupees, up 744 bln rupees from the Interim Budget. The total transfer to states in 2024-25 is 11.9% higher than the revised estimate of 20.99 trln rupees for 2023-34.
The Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman today, projected devolution of taxes to states at 12.47 trln rupees, up 12.9% from the revised estimate of 11.04 trln rupees in 2023-24. According to the 15th Finance Commission's recommendations, the Centre devolves 41% of the divisible pool of taxes to the states and union territories.
The Budget projected the transfer of Finance Commission grants to states at 1.32 trln rupees, down 5.7% from the revised estimate for 2023-24.
The following table details the transfer of resources to states and union territories with the legislature as per the Budget proposals (in bln rupees):
| Budget Estimate 2024-25 | Interim Budget 2024-25 | (Revised Estimate) 2023-24 | Yr-on-yr % change (BE v/s RE) | |
| Devolution of taxes | 12,472.11 | 12,197.83 | 11,044.94 | 12.9% |
| Finance Commission grants | 1,323.78 | 1,323.78 | 1,404.29 | (-)5.7% |
| Other transfers | 9,693.91 | 9,223.80 | 8,540.43 | 13.5 |
| Total transfer | 23,489.80 | 22,745.41 | 20,989.66 | 11.9% |
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Reported by Priyasmita Dutta and Kabir Sharma
Edited by Saji George Titus
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