India's central government releases ₹1.39 lakh crore tax devolution funds to states in June.

India's central government has released ₹1.39 lakh crore in tax devolution funds to states for June, as part of its devolution mechanism, based on the Finance Commission's formula which allocates 41% of the Centre's tax revenue to states. This additional funds release aims to accelerate development and capital spending by state governments. The total amount devolved to states till June 10, 2024, amounts to over ₹2.79 lakh crore.