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Tamil Nadu FY22 Budget: Debt, fiscal deficit swell; tax revenues fall by 18%

Updated : February 23, 2021 04:55 PM IST

Even as Tamil Nadu heads into a crucial Assembly election later this year, the state’s Finance Minister O Panneerselvam presented the interim Budget on February 23.

The states debt burden has more than doubled, and its fiscal deficit has crossed Rs 1 lakh crore. Tax revenues have declined by 18 percent and revenue deficit is at around Rs 66,000 crore.

Speaking to CNBC-TV18, S Krishnan, Additional Chief Secretary – Finance of Tamil Nadu said that the states 5% fiscal deficit will come down to 3.9% next year.

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