Centre starts providing funds to Telangana

The government has started providing funds to Telangana, which on Monday became the 29th state of India.

PTI| Last Updated: Jun 02, 2014, 23:07 PM IST

New Delhi: The government has started providing funds to Telangana, which on Monday became the 29th state of India.

"The Government of India has started devolving funds to the newly created State of Telangana from today, a finance ministry statement said.
K Chandrasekhar Rao, who had spearheaded the movement for separate state of Telangana, was today sworn in as Chief Minister of newly-carved out state.

As per the recommendations of 13th Finance Commission, the share of states in the central divisible pool is devolved to the states on every first working day of the month.
Telangana state has come into existence today vide Andhra Pradesh Re-organisation Act, 2014. Hence, the share of erstwhile State of Andhra Pradesh has been apportioned between the successor states and devolved to them separately, the statement added.