Tamil Nadu Deputy Chief Minister O. Panneerselvam presented the State's Budget for the Financial Year 2019-20 in the Tamil Nadu Assembly on Friday.
Tamil Nadu revenue deficit estimated to be Rs. 14,315 crore in 2019-20, lower than Rs. 19,319 crore in revised budget estimate for 2018-19.
Phasing out of UDAY and pay revision impact, the state government expects to bring down the revenue deficit.
Tamil Nadu fiscal deficit estimated to be Rs. 44,176.36 crore in 2019-20. It will be 2.56% of state GSDP, below the norm of 3% fiscal norm.
Rs. 82,673.22 crore allocated for various welfare schemes in 2019-20.
The stamp duty for transfer of property on account of amalgamation or reconstruction of companies will be fixed at 2% of the market value of the immovable property or 0.6% of the aggregate of the market value of shares, which ever is higher.