TN FM seeks unconditional borrowings of 5% GSDP for FY23 owing to Covid

TN FM also seeks merging cesses, surcharges into pool of taxes shared with states

Tamil Nadu finance minister Palanivel Thiaga Rajan (PTR) has on Thursday sought for merging of the cesses and surcharges into the basic rates of tax to raise the share of states by an additional Rs 1.5 trillion from the pool of Central taxes.

In his speech at a pre-Budget meeting today, ahead of the GST Council meeting on December 31, he said that the increased levy of cesses and surcharges, which do not form part of the divisible pool of taxes, has adversely affected the transfer of resources to the states. Cesses and surcharges as a proportion of the Gross