Tamil Nadu’s Own Tax Revenue increased marginally in 2023-24
Tamil Nadu’s Own Tax Revenue stood at ₹1,52,030.77 crore in scal 2023-24, as per the preliminary un-audited provisional gures from the Comptroller and Auditor General of India (CAG).
As per the preliminary gure, the State’s Own Tax Revenue (SOTR) increased marginally from ₹1,50,222.75 crore in the nal accounts for 2022-23. SOTR contributes 75.6% of Tamil Nadu’s total revenue receipts.
The SOTR estimates were revised to ₹1,70,147 crore for 2023-24 from the initial budget estimates of ₹1,81,182 crore, owing to the severe impact caused by natural calamities, as per the State budget for 2024-25 presented in
February.
Among the SOTR components, State Goods and Services Tax (SGST) increased about 15.11% to ₹61,960.29 crore in 202324 from ₹53,822.72 crore in 2022-23, as per the numbers from CAG.
The State also saw its revenue from Stamps and Registration Fees increased about 8.3% to ₹19,013.36 crore in 2023-24 from ₹17,559.89 crore in 2022-23.
Other SOTR have seen marginal increase the preliminary from CAG.
Land revenue increased to ₹255.87 crore in 2023-24 from ₹247.48 crore in 202223 as per the preliminary numbers. Revenue from Taxes on Sales, Trade etc (which includes VAT on petrol and diesel and liquor) components only a as per gures increased to ₹60,026.96 crore in 2023-24 from ₹59,143.52 crore in 2022-23.
The State Excise Duties (which reect liquor revenue) increased to ₹10,774.29 crore in 2023-24 from ₹10,422.61 crore in the comparable period last year.
The balance of Tamil Nadu’s total revenue receipts come from the Share in Central taxes and grantsin aid from the Union government.
Including these components, the State’s total revenue receipts stood at ₹2,62,382.45 crore in 202324, as per the preliminary gures from CAG. The total revenue receipts estimates for 2023-24 was revised to ₹2,72,576.80 crore.
As per the preliminary gures from CAG, Tamil Nadu’s revenue expenditure (which includes expenditure on account of salaries, pensions and other retirement benets, subsidies and grants for welfare schemes and interest on outstanding loans among others) stood at ₹2,98,880.32 crore in 202324.
However, CAG said some of the components of revenue expenditure are still under compilation.
The estimates for revenue expenditure were revised upwards to ₹3,17,484 crore for 2023-24. As per the CAG numbers, since the revenue expenditure exceeded the revenue receipts the revenue decit for 2023-24 was ₹36,497.87 crore.
The revenue decit estimates for 2023-24 were revised upwards to ₹44,907 crore, as per the State budget for 2024-25 presented in February.