The Centre on Thursday released a regular instalment of tax devolution to state governments amounting to over INR 1.09 lakh crore in advance in view of the festive season.
NEW DELHI — The Centre on Thursday released a regular instalment of tax devolution to state governments amounting to over INR 1.09 lakh crore in advance in view of the festive season.
The monthly instalment, normally released on November 10, has been advanced and released on 5th November 2026, in view of the festive season, the finance ministry said in a statement.
"In view of upcoming festive season and to enable states to accelerate capital spending and finance their development/ welfare related expenditure, Union Government releases regular tax devolution of INR 1,09,019 crore to state governments in advance," the ministry said.
Currently, 41 per cent of taxes collected by the Centre is devolved in 14 instalments among states during a fiscal year.