The revenue deficit and the fiscal deficit of the State will be brought under control in the next two years, and it will be the AIADMK government which ensures that, Deputy Chief Minister and Finance Minister O. Panneerselvam said on Thursday.
Speaking during a debate on the State Budget 2020-21 in the Assembly, Mr. Panneerselvam said the government will submit its suggestions on devolution of funds to the 15th Finance Commission by October 30. He said the Commission had to submit its report for 2021-22, and the Tamil Nadu government will put forth its views and ensure that a good outcome is obtained. Mr. Panneerselvam said the State’s revenue is estimated to grow 14.44% and 13.95% in 2021-22 and 2022-23, respectively. He said the State’s tax revenues could grow further if the economic situation at the national level improves.
