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Tamil Nadu Assembly passes additional spending of ₹30,355.32 crore for 2023-24

Tamil Nadu Assembly passes additional spending of ₹30,355.32 crore for 2023-24
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Tamil Nadu budget: Fiscal deficit may widen by 5% of GSDP to Rs 96,890 cr

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 widen to Rs 96,889.97 crore, which is five per cent of its GSDP. ....

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Tamil Nadu will return to double digit growth next year: State admin

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 and fisheries sectors faring even better. Growth in the secondary sector is 1.25 per cent and in the services sector it is 1.64 per cent. This significantly better-than-expected growth in 2020-21 is due to the expeditious and effective measures taken by the Tamil Nadu Government to tackle the pandemic, Panneerselvam said. ....

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