TN CM pegs Rs 85 k crore fiscal deficit

Tamil Nadu would face a fiscal deficit of about Rs 85,000 crore in view of revenue losses, Chief Minister K Palaniswami has said.

Tamil Nadu would face a fiscal deficit of about Rs 85,000 crore in view of revenue losses, Chief Minister K Palaniswami has said. There was no revenue for the government in the past two months, he said adding there have been revenue losses as industries and other businesses did not function.

In view of such a scenario and revenue losses of about Rs 13,000 to Rs 14,000 crore a month, "our Finance Secretary has said that there would be a fiscal deficit of approximately Rs 85,000 crore," he told reporters here on Friday. Palaniswami, after chairing official meetings to review anti-COVID-19 measures and other projects said the government would help people to the maximum possible extent.