Tamil Nadu Finance Minister Thiaga Rajan presents budget 2022-23
Tamil Nadu Finance Minister Thiaga Rajan presents budget 2022-23

Tamil Nadu Finance Minister Palanivel Thiaga Rajan presented the state Budget for 2022-23, emphasising that the state's revenue deficit has decreased for the first time in eight years.

During the Budget presentation, Thiga Rajan stated that the state's revenue shortfall has been reduced from 4.15 percent to 3.08 percent for the first time in eight years.

"Failure to obtain GST compensation from the Centre will result in a loss of Rs 20,000 crore to the government exchequer," the finance minister warned.  "The state government will bear the fees of government and government-aided school kids who want to pursue their further education at institutes like IIT, NIT, AIIMS, and IISc," he said.

The Tamil Nadu government has also set aside Rs 500 crore for flood mitigation in Chennai, as well as Rs 3,384 crore for water management in the state.

"A total of Rs 30 crore has been allotted for the promotion of start-ups in the state. Under the Jal Jeevan initiative, Rs 3000 crore has been allotted to provide drinking water pipe connection. In the next five years, Rs 7000 crore would be spent to build 18,000 smart classrooms with high-tech computer laboratories." the  finance minster said.

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