Tag : E-Budget

Chennai: The Tamil Nadu government on Monday presented the 2024-25 budget, estimating the revenue deficit at over Rs 49,000 crore and made new announcements aimed at achieving the '7 grand Tamil dream' which included social justice and women's welfare. Thangam Thennarasu, who replaced PTR Palanivel Thiagarajan as Finance Minister last year, presented his maiden budget, a paperless, e-budget. The fiscal deficit in Revised Estimates 2023-24 is estimated to 'marginally increase' to Rs 94,060 crore as against Rs 92,075 crore in Budget Estimates. The fiscal deficit as a percentage of GSDP has increased from 3.25 per cent in Budget Estimates to 3.45 per cent in the Revised Estimates 2023-24, owing to a downward revision in the GSDP estimates. Thennarasu made a number of announcements in various sectors including housing, education and infrastructure. The total revenue expenditure was estimated at Rs 3,48,289 crore. Besides the standard increase in committed expenditure in salaries, pensions and interest payments, the allocation for subsidies and transfers has been fixed at over Rs 1.46 lakh crore crore. "This increase is primarily owing to an additional expenditure of Rs 5,696 crore under the Kalaignar Magalir Urimai Thogai Thittam (Women's rights scheme of Rs 1000 a month) over the previous year, to provide for its first full year of implementation," Thennarasu said. "In aggregate, the Revenue deficit is estimated at Rs 49,279 crore in Budget Estimates 2024-25. This includes an amount of Rs 14,442 crore for loss funding to TANGEDCO. Excluding this amount, the Revenue Deficit is estimated to be Rs 34,837 crore in the coming year. It is notable that this is lesser than the revenue deficit excluding loss funding to TANGEDCO as compared ...