TN GOVT PRESENTS 2019-20 BUDGET WITH NO NEW TAXES
Chennai: The Tamil Nadu government Friday
presented the state budget for financial year 2019-20 with no new taxes and
said the revenue deficit will reduce in the coming years.
In the budget presented by Deputy Chief
Minister O Panneerselvam, who holds the finance portfolio, the government
proposed no new taxes but said the revenue deficit was estimated to be around
Rs 14,300 crore.
“With higher SOTR (state’s own tax revenue) growth,
coupled with the phasing out of the impact of Ujwal Discom Assurance Yojana
(Uday) and pay revision, the state expects to bring down the revenue deficit in
the coming years,” he said.
The government also announced a number of initiatives in
various sectors including implementing a Rs 2,000 crore comprehensive parking
management project here.
It will have underground parking facilities, multilevel
parking facilities and on-lane smart parking to accommodate two lakh
four-wheelers and an equal number of two-wheelers, Panneerselvam said.
