AIADMK convenor and deputy Chief Minister O Panneerselvam on Friday presented the last full-fledged budget ahead of the Assembly elections next year. As anticipated, OPS, who also handles the Finance portfolio, tabled a populist budget with the lion’s share allotted for school education, agriculture, infrastructure and social security schemes.
In order to finance fiscal deficit during 2020-21, the deputy CM said the State estimated Rs 59,209.30 crore will be raised as net debt. “Therefore, the net outstanding debt at the end of March 31, 2021, is expected at Rs 4,56,660.99 crore. The State’s own tax revenue is estimated to increase to Rs 1,33,530.30 crore for the year compared to the revised estimate of Rs 1,20, 809.63 crore.” The deputy CM also noted that the Centre was delaying the release of State’s dues under various heads ranging from performance grants given to local bodies and to the aided programmes.
“The inter-se horizontal share of Tamil Nadu has increased marginally from 4.023 per cent to 4.189 per cent which is a welcome reversal in the trend of Tamil Nadu’s share consistently going down in the last few finance commissions reports. But it still does not make up for the injustices heaped on Tamil Nadu in the past, especially by the 14th Finance Commission. The State will again strongly pitch before the 15th Finance Commission that a performing State like Tamil Nadu gets adequately rewarded and incentivised through a progressive formula and mechanism for sharing of resources,” emphasised OPS. More on P6,7