Tamil Nadu’s fiscal deficit stood at ₹22,269 crore in first half of 2021-22
The Hindu
The State’s revenue collection improved, but expenditure remained higher
Tamil Nadu’s fiscal deficit (the difference between total revenue and expenditure) stood at ₹22,269 crore in the first half of 2021-22. Its revenue collection improved, but expenditure remained higher.
According to unaudited provisional figures from the Comptroller and Auditor-General (CAG), the State’s total receipts (including the State’s Own Tax Revenue and the share of Central Taxes, among others, and excluding borrowings) was ₹85,452.77 crore in April-September 2021, up 26.2% from ₹67,707.63 crore in the comparable period last year. The State’s Own Tax Revenue, which accounts for 70% of the total revenue, increased 36.35% to ₹50,324.31 crore in the first half of 2021-22 from ₹36,907.46 crore in the first half of 2020-21.
The revenue in the first half of 2020-21 was impacted by a stringent lockdown imposed to curb the first wave of COVID-19. This year, the lockdown was imposed for only a few months to control the second wave, and this has helped in a higher revenue collection.