Union Finance Minister Nirmala Sitharaman has authorised the release of an advance instalment of tax devolution to State Governments amounting to Rs 47,541 crore, Finance Ministry said.
"This is in addition to the regular devolution for the month of January 2022, also being released today," stated the ministry.
The Government of India had released the first advance instalment of tax devolution to States on 22 November 2021.
States would receive a total of Rs 95,082 crore during the month of January 2022, the ministry added.
The Centre has released advance payments to the states to strengthen the hands of States to accelerate their developmental expenditure.
Finance Ministry stated, "With the release of the second advance instalment today, the States would have received an additional amount of Rs 90,082 crore under tax devolution over and above what has been budgeted to be released till January 2022."
(With inputs from ANI)