The Central government  released the third instalment of tax devolution to state governments, amounting to a total of Rs.1,18,280 crore, the finance ministry said in a statement. 

• The funds have been allocated to the states based on a predefined formula that takes into account various factors such as population, area, and fiscal capacity.
• The state-wise distribution of the net proceeds of union taxes and duties for June 2023 reveals the amounts received by each state.
• Andhra Pradesh, the southern state, received Rs. 4,787 crore, while Arunachal Pradesh, located in the northeastern region, received Rs. 2,078 crore. Assam, Bihar, Chhattisgarh, and Gujarat were allocated Rs. 3,700 crore, Rs. 11,897 crore, Rs. 4,030 crore, and Rs. 4,114 crore, respectively.