What is the meaning of Devolution?

A rolling down.

A descent, especially one that passes through a series of revolutions, or by succession

The transference of a right to a successor, or of a power from one body to another.

Degeneration (as opposed to evolution).

The transfer of some powers and the delegation of some functions from a central government to local government (e.g. from the U.K. parliament to Scottish parliament and Welsh assembly).

Source: wiktionary.org