Tamil Nadu Government Presents Budget, Says Revenue Deficit Down By 50%

The Tamil Nadu government on Monday presented its Budget 2023-24 in the Assembly and said reform initiatives have led to a reduction in revenue deficit from about Rs 62,000 crore to Rs 30,000 crore.

Finance Minister Palanivel Thiaga Rajan, tabling the Budget said that owing to the unprecedented and difficult reforms undertaken, "we have reduced the annual revenue deficit of around Rs.62,000 crore which we inherited on assuming office (May 2021), to around Rs30,000 crore in the Revised Estimates of the current year." This is notwithstanding the several "massive welfare schemes" that are being implemented during the last two years, he said.

Fare free travel for women in State-run buses, breakfast scheme for government school students are among the several schemes being implemented.

Even as Mr Rajan began his address, the principal opposition AIADMK attempted to raise issues which led to a din for a while.

The Minister announced setting up of a hi-tech 'global sports city' in Chennai, Rs 5 crore allocation to translate Dr BR Ambedkar's works into Tamil and Rs 25 crore for 'factory skill schools' and Metro rail projects for Coimbatore and Madurai.

He said the free breakfast scheme for primary students has led to increase in attendance, between 10-30 per cent in schools.

In the upcoming financial year, the government would construct classrooms, laboratories and toilets at a cost of Rs 1,500 crore, he said.

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