Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Thursday said the State government had managed its fiscal situation well, besides ensuring revenue growth and controlling inflation.
“We have ensured that funds are allocated for the necessary social schemes, such as free bus rides, and cut down on unnecessary expenditure. This is essential for ensuring growth in the economy and that the poor are not affected due to heavy inflation,” he told reporters here. As per the statistics released by the Union government, Tamil Nadu’s inflation is at 5%, when compared with the national level of 7%.
Meanwhile, Mr. Thiaga Rajan pointed out that in the first quarter of fiscal 2023, the State’s Own Tax Revenue had increased by over 50%, while the non-tax revenue had grown by 74%. He hinted that the final financial numbers for 2021-22 will be published shortly, and the State is expected to do even better than what was projected in the revised Budget estimates.
