The Hindu : Tamil Nadu / Chennai News : Confident of maintaining fiscal trends: Anbazhagan

Online edition of India's National Newspaper
Friday, Dec 08, 2006
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Tamil Nadu

Tamil Nadu - Chennai

Confident of maintaining fiscal trends: Anbazhagan

Special Correspondent

CHENNAI: The State is confident of maintaining fiscal trends set out in the medium term fiscal plan and achieving its targets, according to a report presented by Finance Minister K. Anbazhagan in the Assembly on Thursday.

The revised budget for 2006-2007 had estimated a revenue deficit of Rs. 1,129.23 crore.

As per the pre-actuals available till September 30, the growth in total revenue receipts is higher than that of total revenue expenditure. Even though there would be higher expenditure commitments in the second half of the financial year, the overall trend indicated that there would be an improvement over the budgetary estimates of revenue deficit.

The report said that the State's own tax revenue till September this year had shown an overall growth of 20.06 per cent over the receipts in the corresponding period of the previous year. The revenue collection was Rs. 13,453.39 crore, which is 49.81 per cent of the revised budget estimate of Rs. 27,010.70 crore for the year 2006-2007.

Receipts from all taxes except taxes and duties on electricity were in line with the revised budget estimates and the estimated receipts would be realised in the current year.

In the State's own non-tax revenue, the collections till September were Rs. 1,079.84 crore as against the budget estimate of Rs. 2,674.71 crore, which is 40.38 per cent of the estimate.

As far as grants-in-aid from the Central Government were concerned, total receipts till September were Rs. 968.46 crore as against the estimate of Rs. 3,020.94 crore, which is 32.06 per cent.

The bulk of the grants-in-aid was expected in the second half of the financial year.

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