Chennai: Given the background of the pandemic, the revised budget presented by the DMK government, which is also the first, on Friday is “Tightrop Walk”, said S Krisnan, an additional state of the Financial Secretary.
“We experience difficult times.
Covid’s second wave has caused loss of income, while the state must issue additional expenditures to fulfill excendation.
In addition, there is pressure on the new government to fulfill his poll promises.
The revised budget has been prepared by considering all this, “He told reporters on Friday.
“During a pandemic, either reducing expenses or increased income outside the point will not help.
Therefore the practice of running Lestop.” This approach will be a datacentric governance to avoid losses and to manage government assets efficiently, while considering community expectations.
“The focus is to improve income management and to increase income,” Krishnan said, which underlies reforms that can be delivered to ensure social benefits reach the target.
TN borrowed RS40,000 Crore in the last three months and it would likely borrow around RS 90,000 Crore this year.
“Loans are in harmony to handle government spending and not only to fund polls.
Our focus is to ensure that loan funds are spent on capital expenditure.” In reducing the state tax revenue by around Rs 9,000 Crore, Krishnan said growth was good in April and May, but fell in June, while the number of July was awaited.
This country produces RS 23,000 Crore per year from petroleum products, Tasmac’s revenue is likely to maintain an annual growth of 4%.
TN budget is Tightrope Walk: S Krishnan
