<h1>Tax devolution: Centre released an additional Rs 1.01 lakh crore to states to boost capital and welfare spending.</h1> The Union government released an additional instalment of tax devolution of Rs 1,01,603 crore to states to accelerate capital spending and finance development and welfare expenditures, supplementing the normal monthly devolution of Rs 81,735 crore. The transfer is aligned with the principle of cooperative federalism and the fiscal arrangement under which 41 per cent of Centre-collected taxes are devolved to states in instalments during the fiscal year.