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T.N.’s fiscal deficit fiscal 2023
May 19 , 2023
429 days
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- Tamil Nadu’s fiscal deficit stood at ₹72,418.99 crore in fiscal 2022-23.
- The fiscal deficit is the difference between total receipts and total expenditure.
- While presenting the Budget for 2023-24, the State government had revised its fiscal deficit estimates to ₹74,524.64 crore for 2022-23.
- The revenue deficit, which indicates that expenditure exceeds receipts, came in at ₹27,549.09 crore for 2022-23.
- The State’s total receipts (which included revenue receipts and capital receipts) stood at ₹2,43,133.76 crore in 2022-23.
- Total expenditure (revenue and capital expenditure, including net loans and advances) was ₹3,15,552.75 crore for 2022-23.
- The total revenue receipts were ₹2,42,013.85 crore for 2022-23.
- It includes the State’s Own Tax Revenue (SOTR), share of Union Taxes, Non-Tax Revenue and Grants-in-aid and contributions.
- The SOTR stood at ₹1,4,1196.22 crore for 2022-23.
- The SOTR accounts for over 70% of the State’s total revenue.
- The State goods and services tax (GST), stamps and registration fees, value added taxes (VAT) on petroleum products and liquor, excise duty on liquor and land revenue are the key components of SOTR.
- Revenue expenditure includes expenditure on salaries to government employees, pensions and other retirement benefits, operations and maintenance expenditure, interest on outstanding loans and subsidies and grants, scholarships and contributions, including the devolution to local bodies.
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