<h1>Finance Minister Doubles Tax Devolution to States, Allocates Rs. 95,082 Crore to Boost Development Amid Pandemic.</h1> The Finance Minister authorized an advance installment of tax devolution to state governments totaling Rs. 47,541 crore, doubling the states' January 2022 entitlements to Rs. 95,082 crore. This release follows a similar advance in November 2021 and adds an additional Rs. 90,082 crore over the budgeted amount for the fiscal year. The initiative supports state governments in enhancing capital and developmental expenditures amid the COVID-19 pandemic. Additionally, the central government completed a back-to-back loan of Rs. 1.59 lakh crore to states for GST compensation shortfalls by October 2021. The distribution details for each state are provided in the statement.