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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
Central taxes as a proportion of total revenue receipts have reduced significantly: Tamil Nadu Finance Minister
Tamil Nadu Finance Minister Thangam Thennarasu on Friday stated that the central transfers from the Union Government in the form of Grants-in-aid and share in central taxes as a proportion of total revenue receipts have reduced significantly.
The Tamil Nadu Minister while presenting the state budget for 2025-26 said that the state's own revenues have been increasing due to the efforts of the state Government.
«While the State's Own Revenues have been increasing due to the efforts of the Government, the central transfers from the Union Government in the form of Grants-in-aid and share in central taxes as a proportion of total revenue receipts have reduced significantly,» Thennarasu said.
He said that withholding of funds under Samagra Shiksha, denial of funds under NDRF for Cyclone Fengal, and a paltry release of Rs 276 crore for two massive disasters in the form of Cyclone Michaung and the unprecedented rainfall in southern districts have all caused severe strain on the State Finances.
«In 2024-25, the grants-in-aid are estimated to substantially reduce to Rs.20,538 crore in the Revised Estimates, as compared to the Rs. 23,354 crore projected in the Budget Estimates. Anticipating the release of the entire funds due to the State under Samagra Shiksha in the ensuing year, the Grants-in-aid receivable from the Union Government are estimated at Rs.23,834 crore in Budget Estimates 2025-26,» he added.
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He further said that the share in central taxes has been estimated at Rs.52,491 crore in the Revised Estimates, as compared to Rs.49,755 crore in the Budget Estimates 2024-25.
«While there is an increase owing to the higher tax collections by the Union Government, it continues to be far less than what should
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