Govt releases Rs 1,40,318 cr monthly instalment tax devolution to states

NEW DELHI: The Central government has released Rs 1,40,318 crore as monthly instalment towards tax devolution to states.

The monthly instalment for March is much more than the normal monthly devolution of Rs 70,159 crore made for states.

This is in line with the commitment of the Central government to strengthen the hands of states to accelerate their capital and developmental expenditure, an official statement said.

Uttar Pradesh received the highest instalment of Rs 24,783 crore among all states.