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The interim budget’s projections for FY25 are rather modest. It expects direct tax collections to grow 13.1%, which is more or less the same as the pre-covid trend
Fulfilling one of the major election promises, though partially, by reducing Rs 3 in excise duty on petrol, Finance Minister P T R Palanivel Thiaga Rajan on Friday postponed “deeper reforms” to ensure the state’s “debt overhang” is corrected till overcoming the Covid-19 pandemic.
Chennai, Feb 23 : Moving towards clean and green fuel, Tamil Nadu will buy 12,000 new buses out of which 2,000 will be electric ones, Deputy Chief
Tamil Nadu's tax revenue declined by 18 per cent, at about Rs 1 trillion in 2020-21 as per the revised budget. In the aggregate, the State-owned tax revenue (SOTR) is expected to be Rs 1.09 trillion in the revised estimates, down 18 per cent against Rs 1.33 trillion anticipated as revenue in the budget estimates. The interim budget was presented by Tamil Nadu Deputy Chief Minister and Finance Minister O Panneerselvam today. The state, like all other domains, was under intense lockdown for nearly six months before the unlocking started. The government’s fiscal deficit is expected to be ...
Tamil Nadu is expected to register a positive growth rate of 2.02 per cent at 2011-12 constant prices in 2020-21 as against an All India negative growth rate of 7.7 per cent for the current fiscal. Meanwhile, the State has asked the Centre to merge cesses and surcharges with the basic rate of tax so that States receive their legitimate share of revenue. While presenting the interim Budget today, Tamil Nadu Deputy Chief Minister and State Finance Minister, O Panneerselvam, attributed the strongest performance among states to the primary sector, which grew at 5.23 per cent, with the livestock...