Tamil Nadu budget: Fiscal deficit seen at 4.3% of GSDP; tax on petrol cut

State allocates Rs 32,560 cr for education; lines up medium term fiscal plan to tide over rising debt

Tamil Nadu’s fiscal deficit for financial year 2021-22 was estimated at Rs 92,529 crore in the revised Budget Estimates 2021-22, which will be 4.33 per cent of the Gross State Domestic Product (GSDP).

In a huge relief to fuel consumers, Tamil Nadu finance minister P T R Palanivel Thiagarajan announced on Friday that the state will cut petrol price by Rs 3 per litre by reducing taxes on the fuel, which will result in a loss Rs 1,160 crore on revenue for the state exchequer. In Chennai, petrol is priced at Rs 102.49 a litre before the price cut.

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