TN Bud­get 2017-2018

A TO Z INDIA - - Inside -

Tamil Nadu Deputy Chief Min­is­ter O Pan­neer­sel­vam pre­sented the 2018-19 bud­get in the state As­sem­bly. This is the first bud­get of the Tamil Nadu gov­ern­ment af­ter last year’s merger of Chief Min­is­ter K Palaniswami and Deputy Chief Min­siter O Pan­neer­sel­vam-led AIADMK camps.

High­lights of Tamil Nadu bud­get

To­tal rev­enue re­ceipts, in­clud­ing Cen­tral trans­fers, are es­ti­mated at ₹1,76,251 crore dur­ing 2018-19.

The state’s own tax rev­enue is es­ti­mated to be ₹98,693 crore.

It is es­ti­mated to in­crease to ₹1,12,616 crore in the bud­get es­ti­mates for 2018-19.

The rev­enue ex­pen­di­ture dur­ing 2018-19 is es­ti­mated at ₹1,93,742 crore, which shows a growth of 11.22% over re­vised es­ti­mates 201718.

The rev­enue deficit is ex­pected to be ₹17,491 crore and the fis­cal deficit is es­ti­mated to be ₹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. Dur­ing the pe­riod from July 2017 and Fe­bru­ary 2018, the State has re­ceived ₹632 crore as GST com­pen­sa­tion from the gov­ern­ment of In­dia, Mr. Pan­neer­sel­vam in­forms As­sem­bly.

A sum of ₹786 crore has been pro­vided for State Dis­as­ter Re­sponse Fund for 2018-19. A com­pre­hen­sive flood man­age­ment plan for North Chen­nai and South Chen­nai has been pre­pared at an es­ti­mate of ₹2,055 crore and sub­mit­ted to Cen­tre for sup­port.

The sub­sidy ear­marked for 2018-19 bud­get es­ti­mates is ₹75,722.76 crore, whereas the re­vised es­ti­mate for 2017-18 is ₹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.

The trends in ex­pen­di­ture are steady ex­cept for the hike in salaries and pen­sions due to the im­ple­men­ta­tion of Sev­enth Pay Com­mis­sion rec­om­men­da­tions.

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