Tamil Nadu Budget 2018-19: State expects revenue deficit of Rs 174.90 bn

Finance Minister and Deputy CM O Panneerselvam says Tamil Nadu's economic growth would surpass 9% in 2017-18

Tamil Nadu Deputy Chief Minister and Finance Minister O Panneerselvam said the state’s total Revenue Receipts (TRR) had been projected at Rs 1558.25 billion in the revised estimates 2017-18, the revenue expenditure was estimated to be Rs 1,741.95 billion, leaving the revenue deficit at Rs 174.90 billion.

The state of Tamil Nadu's revenue deficit in 2018-19 is expected to be around Rs 174.90 billion. The two major reasons are implementation of UDAY scheme and pay panel recommendations amidst these financially challenging times, says Panneerselvam.

The state, which had been opposing the goods and services tax (GST) earlier, is now