The Centre will on Thursday release an advance instalment of tax devolution to the States amounting to ₹47,541 crore, the Finance Ministry said.
“Finance Minister Nirmala Sitharaman has authorised the release of an advance instalment of tax devolution to State governments amounting to ₹47,541 crore, here today. This is in addition to the regular devolution for the month of January , also being released today,” the Ministry said in a statement.
Thus, States would receive a total of ₹95,082 crore or double their respective entitlement during the month of January, the Finance Ministry said in the statement.
