Centre releases Rs 1.09 lakh crore extra tax devolution to states
The Finance Ministry released an additional Rs 1,09,019 crore in tax devolution to state governments on October 31, over and above the regular monthly transfer, to support state finances ahead of the festive season.
Uttar Pradesh received the highest share, followed by Bihar and Madhya Pradesh. It is the second such additional instalment this financial year.
Economists say the early release gives states room to fund welfare payouts and capital spending without resorting to costlier borrowing.
Originally reported by TrendPulse India (citing The Hindu). Article compiled by the Deccan Age desk.
