Overview
- The Union Finance Ministry released the regular monthly tax devolution payment of Rs 1,09,019 crore to state governments in advance of its normal schedule to boost near-term liquidity.
- Uttar Pradesh received the largest share at Rs 19,208 crore followed by Bihar with Rs 10,845 crore, Madhya Pradesh Rs 8,010 crore, West Bengal Rs 7,866 crore, Maharashtra Rs 7,022 crore and Rajasthan Rs 6,460 crore.
- This November instalment follows two identical supplemental transfers earlier in the year, including one in August and another in recent weeks, showing a pattern of extra top-ups for state finances.
- Official mid-year fiscal data for April–September show a Rs 7.14 lakh crore deficit equal to 42.1% of the full-year budget estimate and revenue receipts at 49.7% of the budget, which frames the Centre’s remaining fiscal space.
- By advancing funds, the Centre aims to help states accelerate infrastructure and welfare spending now while the moves could tighten federal budget headroom and affect how the remainder of the year’s deficit is managed.