T.N. Budget opts for fiscal prudence over populism
By Thehindu 10 Feb 2019
The Budget presented by him on Friday focussed more on tightening the finances. The fiscal deficit will be 2.56% of the Gross State Domestic Product, below the threshold of 3% mandated by the Fiscal Responsibility Budget Management (FRBM) Act norms, he said.
Mr. Panneerselvam told the Assembly that the fiscal consolidation would be achieved by limiting borrowings to a level below the ceiling fixed by the Central government and an expected increase in the State’s Own Tax Revenues (SOTR), thereby bringing down the revenue deficit.
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