💨 Abstract

The Indian government has released a higher-than-usual tax devolution of Rs 1.73 lakh crore to state governments on January 10. This move is aimed at boosting capital expenditure and funding welfare activities. The Union government typically devolves 41% of collected taxes among states during a fiscal year. This month's devolution is significantly higher than the previous month's, which was Rs 89,086 crore.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖