The budget deficit of the state government had increased since the commercial tax and excise duty expected from Tasmac shops had not risen to the expected level, Deputy Chief Minister and Finance Minister O Panneerselvam on Thursday said.
Deputy Chief Minister O Panneerselvam
Chennai:
The budget deficit had increased since the state government had taken over Rs 22,185 crore debts of Tangedco he said and added another major reason for the rise of debts is the pay revision for government staff.
However, he said the budget deficit and the state government’s debts compared to the state GDP is under control and the government had the capacity to pay the interest on its loans.
Replying to a query raised by former minister KN Nehru in the Assembly, Panneerselvam said the government expenses had risen steeply while the increase in revenue is not proportional.
Though, the amount of debts is rising every year, it should be compared with the state GDP to calculate the debt proportion.When economic production increases, the repaying capacity of the state government too would be on the rise, he said and noted that the debts should be within 25 per cent of the GDP.
Giving the statistics for the last three years, he said the proportion of debt is within the allowed limits, he asserted. He also said the debt proportion of the Centre is higher since it comes around 48.80 per cent of the nation’s GDP.
Ultra-modern godown for TNCSC in Maraimalai Nagar
Chief Minister Edappadi K Palaniswami on Thursday flagged off 25 new ambulances attached to the ‘108’ Emergency Ambulance Service in Chennai The new ambulances are fitted with Global Positioning System (GPS) instrument Seven new jeeps given to Family Welfare Department offices in Salem, Pudukkottai, Vellore, Kancheepuram, Tiruvallur, The Nilgiris and Tirunelveli Two jeeps provided to Directorate of Family Welfare
GPS-ENABLED 25 NEW AMBULANCES JOIN 108 SERVICE FLEET
- Total cost of the 34 vehicles is 4.9 crore
- Rs 75 crore for three-storey godown with ultra-modern facilities for the Tamil Nadu Civil Supplies Corporation in Maraimalai Nagar near Chennai
- Rs 90 crore for paddy granaries in three places with a capacity of 15,000 metric tonne each
- Rs 40 crore for moderising Civil Supplies godowns with equipment like forklift, stacker cum loader, automatic weighing and packing machine
- Rs 45 crore for replacing asbestos sheet roofs in 100 godowns with modern rust resistant iron roofing
- Rs 50 crore for road, drainage and facilities for loadmen 1000 metric tonnes each fertilizer godowns to be built for Tamil Nadu Cooperative Marketing Federation
- 117 buildings for cooperative offices, besides modernisation of societies and banks at 9 places
- 14 new branches of Central Cooperative Bank
- Rs 27 crore for almirahs with lockers at 1,367 hostels under SC/ST Dept
- 250 houses for STs in Tiruvannamalai, Villupuram, Salem, Dharmapuri and Vellore