Centre Releases ₹1.09 Lakh Crore Tax Share to States Early
The Centre has released ₹1.09 lakh crore in tax devolution to the states ahead of schedule. The monthly instalment was normally due on November 10, but it was moved up to November 5 because of the festive season, the Finance Ministry said in a statement.
Context
Context: Tax devolution is the share of central tax revenue the Centre passes on to the states, which they use to fund their own spending. Getting the money early helps states meet extra costs during the festive season.
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