General News

TN’s interim Budget to be presented today

Chennai: Minister of Finance O Panneerselvam will present his 11th Budget, followed by a debate. The number of days of the Budget session depends on the business advisory meeting to be held. This will be the second session of the year following the one which commenced with the address of Governor Banwarilal Purohit on February 2 and ended on February 5. Opposition parties are likely to boycott Tuesday’s session, as the first session.

According to sources, the debt of the State government is likely to be shown at Rs 5 lakh crore and with the huge fiscal deficit in revenue generation, taxes are likely to be increased. “However, owing to Assembly elections, the tax increase could be announced later in the full Budget session, which will be presented by the next government,” a revenue official said. During the session, the government will unveil portraits of legendary freedom fighters and politicians, in the Secretariat.

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