Bommai thanks PM for advance installment of tax devolution of Rs 3,467.62 cr

Bengaluru:  Expressing his gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharamam for releasing an advance installment of tax devolution of Rs 3,467.62 crore, Karnataka Chief Minister Basavaraj Bommai on Friday said this will aid the economic growth of the state.

In a series of tweets, Bommai said the assistance came at a time when the state was battling the third wave of COVID-19.

”Government of India released an advance installment of tax devolution of Rs. 3,467.62 Cr for Karnataka. Out of this, 1,733.81 Cr is a regular January 2022 installment & 1733.81 Cr is an advance installment. I extend thanks on behalf of people of Karnataka to PM @narendramodi ji and FM @nsitharaman Ji,” Bommai tweeted.

He further tweeted, ”This will help drive expenditure in key sectors, strengthen demand and aid economic growth in Karnataka. Especially when State is facing the third wave of COVID, the advance installment is a welcome relief.”