The Tamil Nadu government on Friday presented the state budget for the financial year 2019-20. While the government proposed no new taxes, it said the revenue deficit will reduce in the coming year.
The budget was presented by Deputy Chief Minister O Panneerselvam, who also holds the finance portfolio. The government said the revenue deficit was estimated to be around Rs 14,300 crore.
“With higher SOTR (state’s own tax revenue) growth, coupled with the phasing out of the impact of Ujwal Discom Assurance Yojana (Uday) and pay revision, the state expects to bring down the revenue deficit in the coming years,” Panneerselvam was quoted as saying by PTI.