Tamil Nadu budget for the year 2021-22, presented on Tuesday, has estimated that the overall outstanding debt as on March 31, 2022 will be Rs 5,70,189.29 crore.
Deputy Chief Minister and Finance Minister O Panneerselvam, while presenting his 11th budget, said that the overall outstanding debt as on March 31, this year, is estimated to be Rs 4,85,502.54 crore.
Though the rising debt of the state is a cause of concern, Panneerselvam said that the debt-Gross State Development Product (GSDP) ratio of Tamil Nadu is well within the norms set by 15th Finance Commission.
Also, although the state government announced crop loan waiver of Rs 12,110.74 crore but in the budget only Rs 5,000 crore has been allotted.
Panneerselvam also announced that computer science which has been a separate subject in Classes 11 and 12 will be made part of curriculum from Classes 6 to 10.
Meanwhile, opposition parties led by DMK staged walkout even before the budget was presented. Citing the huge debt DMK General Secretary Duraimurugan said that state government has no plans to tide the gap in debt.