Centre Releases ₹1.09 Lakh Crore Extra to States
The Centre has released an additional instalment of ₹1.09 lakh crore of tax devolution to the states. This is in addition to the regular monthly devolution and the second additional instalment this financial year. The move adds to the money flowing from the Centre to state governments.
Context
Context: Tax devolution is the share of central tax revenue that the Union government passes on to states. Extra instalments like this help states meet their spending needs, and the Finance Commission sets the broad formula.
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