Additional instalment of tax devolution to be released to States on June 2: Finance Ministry
The Hindu
Union Government approves additional ₹81,735 crore tax devolution to states, enhancing cooperative federalism and accelerating development projects.
The government on Friday (May 30, 2025) approved an additional instalment of ₹81,735 crore as tax devolution to States, which will be released on June 2.
This release is in addition to the regular monthly instalment of tax devolution of ₹81,735 crore, which will be released on June 10, 2025.
"The Union Government has approved an additional instalment of ₹81,735 crore as Tax Devolution to the State Governments, which will be released on June 2, 2025," the Finance Ministry said in a statement.
The additional instalment of devolution to States is in line with the principle of cooperative federalism and the aim of becoming 'Viksit Bharat' by 2047, it added.
"The additional instalment of devolution will enable the States to speed up their Capital spending, finance their development and welfare-related expenditure and also make available resources for priority projects/schemes of the States," the Ministry said.
Currently, 41% of taxes collected by the Centre is devolved in instalments among States during a fiscal year.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.