The Centre has released two instalments of tax devolution to States, amounting to ₹95,082 crore in November, the Finance Ministry said on Tuesday.
“The Government of India has released two instalments of tax devolution to State governments amounting to ₹95,082 crore on November 22 2021, as against normal monthly devolution of ₹47,541 crore,” the ministry said. The increased amount is an advance release and final adjustments will be made in March 2022. “₹95,082 crore of tax devolution to strengthen fiscal space of States,” the ministry added.
