Tmil Nadu Budget For 2018-19 presented today Thursday March 15,2018

Deputy Chief Minister of  Tamil Nadu O. Panneerselvam, also handling finance portfolio, presented the State budget 2018-19 in the Assemblyon Thursday March 15,2018

DMK members led by Leader of the Opposition M.K. Stalin, stage walk out after being refused to speak; they boycotted the Budget speech.

O Panneerselvam made the following announcements:

• Total revenue receipts, including Central transfers, are estimated at ₹1,76,251 crore during 2018-19.
• The state’s own tax revenue is estimated to be ₹98,693 crore.
• It is estimated to increase to ₹1,12,616 crore in the budget estimates for 2018-19.
• The revenue expenditure during 2018-19 is estimated at ₹1,93,742 crore, which shows a growth of 11.22% over revised estimates 2017-18.
• The revenue deficit is expected to be ₹17,491 crore and the fiscal deficit is estimated to be ₹44,481 crore in the budget estimates 2018-19.
• The fiscal deficit to GSDP ratio is estimated at 2.79% as per the budget estimates 2018-19, which is well below the 3% fiscal norm.
• During the period from July 2017 and February 2018, the State has received ₹632 crore as GST compensation from the government of India, Mr. Panneerselvam informs Assembly.
• A sum of ₹786 crore has been provided for State Disaster Response Fund for 2018-19.
• A comprehensive flood management plan for North Chennai and South Chennai has been prepared at an estimate of ₹2,055 crore and submitted to Centre for support.
• The subsidy earmarked for 2018-19 budget estimates is ₹75,722.76 crore, whereas the revised estimate for 2017-18 is ₹70,662.74 crore.
• The economy is slowly picking up which is evident from the increase in GSDP growth rate in real terms, from 4.85% in 2012-13 to 8.03% in 2017-18 despite the temporary setbacks in between.
• The trends in expenditure are steady except for the hike in salaries and pensions due to the implementation of Seventh Pay Commission recommendations.