04-August-2026
Economy News
 
Centre releases Rs 1.09 lakh crore tax devolution; Uttar Pradesh gets biggest share to accelerate development spending
03-Aug-2026

In a significant early fiscal transfer aimed at supporting state spending, the Union government on Saturday (August 1) released an additional Rs 1,09,019 crore as tax devolution to state governments, advancing the due monthly instalment. The Centre said the move is meant to strengthen state finances and give governments more room to push capital expenditure, developmental works and public welfare spending at a time when project execution and infrastructure demand remain high.

News Source:- https://www.financialexpress.com/policy/economy/centre-releases-rs-109019-crore-tax-devolution-uttar-pradesh-gets-biggest-share-to-accelerate-development-spending-finance-ministry/4308696/?ref=economy_hp