Centre releases extra ₹1.09 lakh crore tax devolution to states
In short
The Centre released an extra ₹1,09,019 crore to state governments on Saturday.
The finance ministry said the money is meant to help states spend more on capital projects and welfare before the festive season. The report does not give the state-wise split, only the total amount.
What the reporting says
The Centre on Saturday released an additional tax devolution tranche of ₹1,09,019 crore to state governments, according to the finance ministry statement cited in Business Standard. The release comes in addition to the regular monthly devolution and a second extra instalment this financial year. The ministry said the funds are meant to help states accelerate capital spending and finance development and welfare work, though the exact state-wise split is not stated.
Why it matters
The Union government released an extra tax devolution tranche of ₹1,09,019 crore to state governments on Saturday, according to a finance ministry statement cited by Business Standard. The ministry said the release is in view of the upcoming festive season and to help states speed up capital spending and welfare-related expenditure. The report does not state the state-wise allocation or any market impact beyond fiscal support.