Deputy Chief Minister of Tamil Nadu, O. Panneerselvam, also handling finance portfolio, presented the State budget 2018-19 in the Assembly on Thursday.
There were no new taxes in the Tamil Nadu budget for the year 2018-19, but OPS made a slew of announcements worth thousands of crores of rupees in the budget.
Panneerselvam presented a budget that projected a revenue deficit of Rs. 17,491 crore and a fiscal deficit of Rs. 44,481 crore.
He said the total revenue for the state, including transfers from the central government, were estimated at Rs. 176,251 crore for the next fiscal. The expenditure for the next fiscal is estimated at Rs. 193,742 crore.
A comprehensive flood management plan for North Chennai and South Chennai has been prepared at an estimate of ₹2,055 crore and submitted to Centre for support.
Panneerselvam announced that their government has ensured the state’s progress in various sectors in the last 50 years and added that certain critics with “myopic vision” were indulging in “fallacious propaganda” against the Dravidian rule.
Soon after Panneerselvam began his budget speech, DMK MLAs led by leader of opposition in the Assembly, M K Stalin clad in black shirt, sought the Speaker’s permission to raise an issue. As Speaker P Dhanapal declined, he led a walk out of his party MLAs.