Though the Tamil Nadu government sticks to its demand that the Goods and Services Tax (GST) compensation be continued beyond June 30 for two more years, it has calculated revenue receipts for the coming year without considering the continuation of the compensation, according to a senior official.
In the budget, the government has estimated a 17% growth of State Own Tax Revenue (SOTR), which, the official says, is “realistic”. For 2022-23, the Gross State Domestic Product (GSDP) is expected to grow 14%. According to the revised estimates for 2021-22, the figures of SOTR and GSDP are 1,21,857.55 crore and 21,79,655 crore respectively. For the coming year, they are 1,42,799.93 crore and 24,84,807 crore.
Asked how the government achieved the reduction in fiscal deficit of the current year (revised estimates) by about 0.8% as against the actuals of 2020-21, the official replies that the rise in revenue receipts, including SOTR and Central transfer, expenditure control and savings through data purity measures have contributed to the difference.
