Centre releases Rs 2,486 crore to TS, Rs 4,787 crore to AP towards tax devolution

HYDERABAD: The Centre released Rs 2,486 crore to Telangana state and Rs 4,787 crore to Andhra Pradesh on Monday towards the third instalment of tax devolution to states.

One advance instalment in addition to the regular instalment due in June was released to states to enable them to speed up capital spending and to fund development programmes and welfare schemes.

The Centre released third instalment of tax devolution to all the states amounting to Rs 1,18,280 core as against normal monthly devolution of Rs 59,140 crore.

The advance instalment was released to make available resources for state governments for implementation of their priority projects/schemes.