Centre releases Rs 1.09 lakh crore tax devolution to states
In short
The Centre released an extra ₹1.09 lakh crore of tax devolution to states.
Finance Minister Nirmala Sitharaman said stronger economic activity and good tax collections helped make the payment. The report does not say how each state will spend the money.
What the reporting says
The Centre released an additional instalment of tax devolution of ₹1.09 lakh crore to states. Mint said Finance Minister Nirmala Sitharaman linked the transfer to stronger economic activity and buoyant tax collections. The immediate effect is higher funds for state governments, while the reporting does not specify how individual states will use the money.
Why it matters
The Centre released an additional instalment of tax devolution worth ₹1.09 lakh crore to states. The reported justification from Nirmala Sitharaman was stronger economic activity and buoyant tax collections. This is a fiscal transfer that should support state finances, but the reporting does not break out state-wise amounts or any spending plans.