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White report - Tamilnadu Economy
August 13 , 2021
1000 days
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- Tamil Nadu Minister for Finance and Human Resources Management P. T. R. Palanivel Thiagarajan published White Paper on the state’s finances at the Secretariat in Chennai.
- The white paper highlighted the fiscal mismanagement during the past 10 years in Tamilnadu.
- According to the white paper, the average annual growth rate of GSDP in TN has reduced from 10.15 per cent in 2006-11 to 7.22 per cent in between 2016-20.
- Revenue deficit of TN has been deteriorating for the last eight years.
- Revenue deficit is 3.16 as percentage of GSDP for FY 2020-21.
- Fiscal deficit of the state has been primarily increasing due to increase in govt borrowing.
- Fiscal deficit is 4.43 as percentage of GSDP.
- The public debt is Rs 2,63,976 per family in Tamil Nadu.
- Public debt as percentage of GSDP is 26.69 per cent.
- State's Own Tax Revenue registered a significant decline.
- Subsidies has increased to 27.06 per cent of Revenue Expenditure and 3.21 per cent of GSDP in 2020-21.
- Power subsidy is the highest at 1.10 per cent of GSDP.
- Food subsidy is at 0.49 per cent of GSDP.
- Transport subsidy is at 0.19 per cent of GSDP.
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