Tamil Nadu Interim Budget

• Tamil Nadu Deputy Chief Minister and Finance Minister O. Panneer selvam presented the interim Budget ahead of the State elections.
• TN's GSDP as per Revised Estimates 2020-21 is at Rs. 19.43 lakh crore.
• It is estimated to increase to Rs. 23.42 lakh crore in 2021-22.
• The government incurred an expenditure of ₹ 13,352.85 crore on the Covid response.
• It is providing accident-cum-life insurance cover for 55.67 lakh breadwinners from Below the Poverty Line (BPL) families.
• It enhanced medical insurance cover for government employees from 4 lakhs to 5 lakhs.
• Approval has been granted for constructing an industrial park at Kallapalayam in Coimbatore district.
• Around 40 lakh households will be provided with drinking water connection.
• The subsidy for roofing under the Prime Minister's housing scheme has been hiked to Rs. 70,000.
• The Computer Science subject will be taught to Students from 6th to 10th standard.
• The number of fire stations at Sivakasi, the fireworks hub of India, will be increased.

Allocations

• An allocation of Rs 144 crore has been set aside for Amma Mini Clinics. 
• For the Higher Education department, Rs 5,478.19 crore has been allocated.
• This is up 8.42%.
• Rs 688.48 crore allocated for the welfare of persons with disability.
• This is supposed to go towards a special project called RIGHTS.
• Rs. 6,683 crores were allocated for Coimbatore Metro project.
• Rs 7,217 crore were allocated for fisheries.
• School education sector allocated Rs. 34,181 crores.
• The allocation for Agriculture was increased by 7.8% in the Interim Budget Estimates for 2021-22.
• Rs. 1738 crore allocated towards the state’s agriculture sector.
• Additional Rs. 5000 crores allocated towards crop loan waiver.
• Relief provided for loss of paddy due to natural disasters hiked from Rs. 13,000 per hectare to Rs. 20,000 per hectare.
• Rs. 4371 crores distributed to beneficiaries under the state marriage assistance scheme.
• Further, gold worth Rs. 1791 crore distributed to 12.5 lakh people over the last 10 years under the state marriage financing scheme

Debt

• Tamil Nadu's overall debt is estimated to be Rs. 5.70 lakh crore as on March 31, 2022.
• It is estimated to be Rs. 4.85 lakh crore as on March 31, 2021.
• The State is estimated to raise net debt of ₹84,686.75 crore to finance the fiscal deficit in 2021-22.

Tax Revenue and fiscal deficit

• Interim budget estimates for 2021-22, State GST revenue: Rs. 45,395.50 crore, VAT: Rs. 56,413.19 crore, State Excise Duty: Rs. 9,613.91 crore.
• Tamil Nadu’s share of central taxes was reduced to ₹23,039.46 crore in the Union Budget (revised estimates for 2020-21) from ₹32,849.34 crore in the Budget estimates for 2020-21.
• State's Own Tax Revenue is estimated to be Rs. 1.09 lakh crore in the Revised Estimates 2020-21.
• It is a decrease of Rs. 23,561 crores in the Budget Estimates 2020-21.
• This is estimated to increase to Rs. 1.35 lakh crore in 2021-22.
• The total revenue receipts are estimated at ₹2,18,991.96 crore.
• Budgeting for all ongoing salary, pension, interest and scheme related expenditure, the revenue expenditure is projected at ₹2,60,409.26 crore in the interim Budget estimates for 2021-22.
• The overall revenue deficit for 2021-22 is estimated to be ₹41,417.30 crore.
• TN's fiscal deficit is expected to widen to Rs. 96,889.97 crore in the Revised Estimates for 2020-21.
• It is 4.99% of the Gross State Domestic Product (GSDP).
• It will be within the limits recommended by the 15th Finance Commission.

GSDP

• Tamil Nadu is expected to register a positive GSDP growth of 2.02% in 2020-21 (which is based on constant prices in 2020-21), as opposed to a 7.7% negative growth projected at the all-India level.
• The strongest performer is the primary sector (agriculture), at 5.23%, with the livestock and fisheries sectors registering even stronger growth.
• The growth in the secondary sector is 1.25%, and in the services sector, 1.64% in 2020-21.