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The Andhra Pradesh Government has been allotted Rs 1,616.78 crore and Telangana Rs 915.85 crore under the first instalment of fiscal devolution under the Fourteenth Finance Commission.
The Union Finance Ministry has released Rs 37,420 crore today to 29 States as the first instalment for the financial year 2015-16 as per the new formula approved by the Centre.
Accordingly, both the new State of Telangana and the residual state of AP have been sanctioned amounts, as per the statement of Finance Ministry.
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