Union Government has released over one lakh sixteen thousand crore rupees to states as two installments of tax devolution today. It is against normal monthly devolution of nearly fifty nine thousand crore rupees. The top three devolution states are Uttar Pradesh, Bihar and Madhya Pradesh. Government transferred nearly twenty one thousand crore rupees to Uttar Pradesh, Over eleven thousand crore rupees to Bihar, while Madhya Pradesh received over nine thousand crore rupees.
The Finance Ministry stressed that this is in line with the commitment of the Central Government to strengthen the hands of States to accelerate their capital and developmental expenditure.