tax devolution: Centre releases Rs 72,960 crore to states as tax devolution
The Indian government released an additional Rs 72,960 crore to states as tax devolution for financing social welfare and infrastructure development. This comes in addition to the installment due on January 10, 2024, and the Rs 72,961.21 crore released on December 11, 2023. The move aims to strengthen states' capacity for various developmental initiatives.
Source: indiatimes.com