Centre releases ₹1.09 lakh cr tax devolution to states in advance

Centre released an additional ₹1.09 lakh crore in tax devolution (the sharing of central tax revenues with states) as an advance instalment ahead of the regular monthly transfer due on August 10. The instalment is meant to give states more room to boost capital and development spending, the Finance Ministry said. Uttar Pradesh received the largest share at ₹19,208 crore.