Centre releases ₹4,504-crore additional instalment of tax devolution to Karnataka
On Saturday, the Central government released an additional ₹4,504 crore instalment of tax devolution to State governments, including Karnataka. This is on top of the regular monthly devolution payments and marks the second such additional release this financial year, according to a Press Information Bureau statement.
The largest allocation was directed to Uttar Pradesh, receiving ₹19,208 crore, with Bihar following at ₹10,845 crore. The Finance Ministry announced the release with the aim of supporting States during the upcoming festive season, enabling them to increase capital spending and finance development and welfare-related expenditures.
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