Finance Ministry releases Rs 45,000 crore as additional devolution to States in FY 2020-21

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 ...