Centre releases additional Rs 72,961 crore from tax kitty to states

The Central government has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to strengthen the hands of state governments for financing various social welfare measures and infrastructure development schemes, the Finance Ministry said on Friday.

This installment is in addition to the tax devolution installment due to states on 10 January 2024 and the installment of Rs 72,961.21 crore already released on 11 December 2023, the statement added.