Tamil Nadu govt projects Rs 174.90 billion revenue deficit in 2018-19

State estimates to borrow Rs 439.62 billion in 2018-2019, as against the permissible limit of Rs 478.87 billion

Tamil Nadu's revenue deficit in 2018-19 is expected to be around Rs 174.90 billion as against the deficit of Rs 183.70 billion in 2017-18. The two major reasons for the deficit are implementation of UDAY scheme and pay panel recommendations, said Deputy Chief Minister and Finance Minister O Panneerselvam.

He presented Budget for 2018-19, first budget after his faction was merged with Chief Minister E Palaniswami, amidst protest and walk out by the opposition party members wearing black shirts to condemn the laxity of state government in pushing the centre to setup Cauvery Management Board.

Total Revenue Receipts (TRR) has been projected