The Union Finance Ministry announced on Thursday the release of nearly Rs 11,000 crore to the Telugu states as part of the central tax share. Andhra Pradesh is set to receive Rs 7,211 crore, while Telangana will benefit from Rs 3,745 crore. This funding forms part of a broader total of Rs 1,78,173 crore allocated to all states in the country.
In addition to the regular installment due in October 2024, the Central Government has also announced an advance installment. The advance share totals Rs 89,086.50 crore, contributing to the overall release.
The decision was made to accelerate capital expenditure in anticipation of the festive season, enabling states to provide crucial financial assistance for various development and welfare initiatives.