Centre releases ₹4,504-crore additional instalment of tax devolution to Karnataka

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The Centre on Saturday released an additional instalment of tax devolution to State governments totalling over ₹1.09 lakh crore. Karnataka’s share stood at ₹4,504 crore.

This is in addition to the regular monthly devolution and is the second additional instalment released in the current financial year, according to a PIB release. The highest allocation went to Uttar Pradesh at ₹19,208 crore, followed by Bihar at ₹10,845 crore.

“This release is in view of the upcoming festive season and to enable States to accelerate capital spending, as well as finance their development- and welfare-related expenditure,” the Finance Ministry said in a statement.

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