The Centre released a tax devolution instalment of Rs. 19,950 crores to the States in the month of June. This is a part of the regular tax sharing arrangement between the Centre and the States. Here are some key points about the release:

• The tax devolution instalment is released every month to the States as their share of taxes collected by the Centre.
• The sharing of taxes is mandated by the Constitution of India and is based on the recommendations of the Finance Commission.
• The tax devolution instalment released in June is higher than the amount released in May, which was Rs. 14,758 crores.
• The increase in tax sharing is attributed to the increase in the collection of Goods and Services Tax (GST) in the month of May.
• The tax sharing arrangement helps ensure the financial stability of the States and enables them to implement development programs for their citizens.

Overall, the tax devolution instalment is a crucial component of the Centre-State relationship in India, and ensures the equitable sharing of resources between the two entities.