Tamil Nadu expects revenue deficit to drop to Rs 14,315 crore in 2019-20

The state is yet to receive its due share of IGST to the tune fo Rs 5,454 crore

Tamil Nadu expects revenue deficit to come down to Rs 14,315 crore in 2019-20 on positive trends in tax receipts. The projected revenue deficit in the revised budget estimates for 2018-19 is Rs 19,319 crore.

In his budget speech, Tamil Nadu Finance Minister O Panneerselvam said that higher growth of state's own tax revenue (SOTR), coupled with the phasing out of the impact of UDAY and pay revision, the state expects to bring down the revenue deficit in the coming years.

The SOTR was 9.07 per cent during 2017-18 and is expected to exceed 14 per cent during 2018-19.

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