Tamil Nadu budget 2018-19 was readout in the Tamil Nadu Chanttamandram today by Dy CM O Paneerchelvam.
DMK made a walk out boycotting the budget speech as according to them, the present government run with the blessing of Narendra Modi is not showing interest in forming Cauvery Melaanmai Vaariam as instructed by the Honorable Supreme Court of India.
Modi’s BJP is indulging in delaying tactics aiming election in Karunataka.
Mr. Panneerselvam made the following announcements in the Tamil Nadu Budget 2018-19 speech:
- 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 2017-18.
- 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 மொத்த உள்நாட்டு உற்பத்தி Gross State Domestic Product – 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 Center 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.