Finance Ministry has released 45 thousand crore rupees as additional devolution to States in Financial Year 2020-21. This is an increase of 8.2 per cent over Revised Estimates 2020-21. As per the Revised Estimates 2020-21, 5 lakh 49 thousand 959 crore rupees being 41 per cent of the shareable pool of taxes and duties were estimated to be released to the States. However, Ministry of Finance has devolved an amount of 5 lakh 94 thousand 996 crore rupees, based on the initial estimates of shareable pool that would be collected in 2020-21.
 
The Ministry of Finance has released these amounts to share the revenue buoyancy seen in 4th Quarter of 2020-21 and in the true spirit of fiscal federalism. The additional amount of 45 thousand crore rupees was released in two installments of 14 thousand 500 crore and 30 thousand 500 crore rupees.
   
14 thousand 500 crore rupees was released along with the 14th regular installment of devolution on 26th of last month, whereas the second installment of 30 thousand 500 crore rupees was released to the States yesterday.