Tamil Nadu revenue deficit to spike to Rs 49,279 crore in 2024-25
Stalin said that the revised estimate for 2023-24 was also higher than the budget estimates for the same year which was pegged at Rs 37,540 crore.
Thangam Thennarasu, who replaced PTR Palanivel Thiagarajan as the state's Finance Minister last year, presented his maiden paperless, e-budget which he said was aimed at achieving the 'Tamil dream' through seven objectives — social justice, welfare of the marginalized, transforming young Tamils as global achievers, knowledge based economy, equality focused on welfare of women, sustainable green future and Tamil language and culture.
«The revenue expenditure is estimated at Rs. 3,48,288.72 crore in Budget Estimates 2024-25 which shows an increase of 9.70 per cent over revised estimates for 2023-24,» he said. «The revenue expenditure is estimated to be Rs. 3,59,949.99 crore in 2025-26 and Rs. 3,89,005.49 crore in 2026-27.»
In his speech, the state's FM hit out at the Centre when he said that the Union government was stifling the state by exercising arbitrary and discriminatory control over Tamil Nadu's finances.
«The imposition of stringent conditions on the borrowing ceiling by the Union Government has unduly restricted the ability of the State to raise resources to fund its development initiatives,» he said.
Further, he added that the 'inordinate delay' by the Union Government in approving the Chennai Metro Rail Project has forced Tamil Nadu to incur the entire project expenditure so far from its budgetary resources, resulting in an expenditure of Rs 9,000 crore in
