Highlights of Tamil Nadu budget 2018-19
Posted on: 15/Mar/2018 12:45:33 PM
Deputy Chief Minister of Tamil Nadu, O. Panneerselvam, presented the Tamil Nadu State budget 2018-19 in the Assembly today.
Highlights of Tamil Nadu budget are,
- The revenue expenditure during 2018-19 is estimated at Rs.1,93,742 crore, which shows a growth of 11.22% over revised estimates 2017-18.
- Total revenue receipts, including Central transfers, are estimated at Rs.1,76,251 crore during 2018-19.
- The state’s own tax revenue is estimated to be Rs.98,693 crore.
- It is estimated to increase to Rs.1,12,616 crore in the budget estimates for 2018-19.
- During the period from July 2017 and February 2018, the State has received Rs.632 crore as GST compensation from the government of India, Deputy CM informs Assembly.
- The revenue deficit is expected to be Rs.17,491 crore and the fiscal deficit is estimated to be Rs.44,481 crore in the budget estimates 2018-19.
- The fiscal deficit to GSDP ratio is estimated at 2.79% as per the budget estimates 2018-19, which is well below the 3% fiscal norm.
- A sum of Rs.786 crore has been provided for State Disaster Response Fund for 2018-19.
- The trends in expenditure are steady except for the hike in salaries and pensions due to the implementation of Seventh Pay Commission recommendations.
- The subsidy earmarked for 2018-19 budget estimates is Rs.75,722.76 crore, whereas the revised estimate for 2017-18 is Rs.70,662.74 crore.
- The economy is slowly picking up which is evident from the increase in GSDP growth rate in real terms, from 4.85% in 2012-13 to 8.03% in 2017-18 despite the temporary setbacks in between.
- A comprehensive flood management plan for North Chennai and South Chennai has been prepared at an estimate of Rs.2,055 crore and submitted to Centre for support.
