Fiscal challenges for the new TN government
The fisc Under pressure - Bloomberg×
The State will need to work towards bringing down its debt level in the coming years
The new Tamil Nadu government that will take charge after the elections will have certain impending challenges with the financial management to deal with.
While the State has adhered to key targets under its Fiscal Responsibility Legislation on fiscal deficit (3 per cent of GSDP) and outstanding liabilities levels (25 per cent of GSDP) in the recent years (between 2011-12 and 2018-19), some of the other indicators show a deterioration. Due to the economic slowdown in 2019-20, the finances of many States saw a deterioration. Tamil Nadu’s fiscal deficit was 3.24 per cent in 2019-20, higher than the 3-per-cent limit.
The coronavirus pandemic had an unprecedented impact on the state s economy, said Pawar, informing that the tax revenue as per the revised estimates for 2020-21 is expected to be Rs 2,18,263 crore.
Maharashtra Budget: Tax on liquor hiked, stamp duty concession for women
Deputy Chief Minister and finance minister Ajit Pawar on Monday presented a budget with revenue deficit Rs 10,226 crore in the state Legislative Assembly
PTI | March 8, 2021 | Updated 19:31 IST
Deputy Chief Minister and finance minister Ajit Pawar
The Maharashtra government s budget for 2021-22, presented on International Women s Day, offered one per cent concession in stamp duty if property is transferred only in a woman s or women s name.
Deputy Chief Minister and finance minister Ajit Pawar on Monday presented a budget with revenue deficit Rs 10,226 crore in the state Legislative Assembly.
While the revenue collection in the coming fiscal was estimated at Rs 3,68,987 crore, revenue expenditure was estimated at Rs 3,79,213 crore.
Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Monday hiked the State Excise Duty and VAT on most types of liquor to collect an additional revenue of Rs 1,800-crore.Presenting the State Budget 2021-2022, Pawar announced .
Read more about Maharashtra budget: Concession in stamp duty for women; tax on liquor hiked on Business Standard. Deputy Chief Minister and finance minister Ajit Pawar on Monday presented a budget with revenue deficit Rs 10,226 cr in the state Legislative Assembly