Centre Releases Extra ₹1.09 Lakh Crore Tax Share to States
The central government has released an extra instalment of tax devolution worth Rs 1.09 lakh crore to the states. This is on top of the regular monthly transfer and the second additional instalment already made this financial year. The money is part of the Centre's share of tax revenue that states receive each year.
Context
Tax devolution is the share of the Union's tax income that the Centre passes on to state governments, which they use for schools, roads and health. The Centre typically pays it in regular monthly instalments, with extra payments added at times.
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