Data released by the Comptroller and Auditor General of India (CAG) on Thursday showed that Tamil Nadu’s total revenue increased by 17.54% in financial year 2022-23. Incidentally, the data was released on the day minister Palanivel Thiagarajan, popular as PTR, was shifted from the Finance portfolio to the Information Technology ministry.
The total revenue for the year 2022-23 was Rs 2.42 lakh crore against Rs 2.08 lakh crore in the financial year 2021-22. Out of the total revenue, tax revenue increased by 17.85% with State GST increasing by 18.88%, and revenue from sale of liquor and fuel by 21.52%.
Overall, revenue crossed the 2022 budget targets by 108.59%. On the Expenditure side, the revenue expenditure has declined, due to which revenue deficit as well as the fiscal deficit are lower than the budget target.
“The last financial year was the first year without any Covid-19 lockdown, and therefore the state economy’s working was not affected. Due to this, the government’s revenue growth has been good,” said a senior official attached to the Finance department.
Read more at : NEWS18
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