DMK also slammed Finance Minister D Jayakumar for placing the budget papers at the memorial of late Chief Minister Jayalalithaa before its presentation in the state assembly, saying he had violated House norms.
Describing the budget as "old wine in new bottle," DMK Working President M K Stalin said Jayakumar "has buried the sanctity of the budget."
He said the "ethos" of legislature and the Constitution was also thrown to winds by placing the budget document first at the burial site of Jayalalithaa and bringing it later to the Assembly.
Ahead of presenting his maiden budget, Jayakumar placed the annual financial statement at Jayalalithaa's burial site at the Marina Beach here, in an act perceived as taking her blessings.
In a statement, Stalin said the Minister's act was against the state assembly rules framed as per Constitutional stipulations to run the House.
Jayakumar had also violated the oaths he had taken while being sworn in as a minister, he alleged and urged Governor Ch Vidyasagar Rao to take appropriate action against him.
Speaking to reporters earlier, he said the budget was devoid of new schemes especially in power generation and there was no farm loan waiver either.
Debt burden had only been increasing irrespective of whether the Chief Minister was Jayalalithaa or others in the incumbent regime, he said and added that the projected debt burden was Rs 3.14 lakh crore by next March.
CPI(M) State Secretary G Ramakrishnan said the budget "showed," that Tamil Nadu was moving towards a severe financial crunch.
Citing factors like the projected debt of Rs 3.14 lakh crore, he said when GST was rolled out, it will affect the state's finances even more.
He also said there was no initiative to create jobs and rued that the budget was not formulated to deal with State's problems and put it on growth path.
CPI State Secretary R Mutharasan described the budget as a "ritual."
The budget had not allotted adequate funds to tackle the overall situation with the state caught in severe drought conditions and drinking water scarcity affecting the people, including farmers.
PMK chief S Ramadoss dismissed the budget as "nothing" and said it had increased the debt burden.
"AIADMK, which came to power claiming that it will catapult Tamil Nadu to the numero uno position is only taking forward the State in debt growth," he charged.
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