CHENNAI: The expenditure of the State government on freebies and various subsidies has gone up to Rs 9,381 crore from Rs 7,739 crore last year.Discussing the budget features, Finance Secretary K Shanmugam told reporters that the subsidy included food (Rs 4,500 crore for rice under the Public Distribution System) and free bus passes for students, besides those to industries and the TANGEDCO (Rs 1,649 crore during last year and `2,196 crore for 2011-12). The allocation for freebies include Rs 1,250 crore for distribution of fan, mixie and grinder and Rs 191 crore for free sheep and cows.On the State’s debt level, he said it was “well within the limits” stipulated by the 13th Finance Commission, which is 24.5 per cent of the Gross Domestic Product.The State’s excise revenue last year was Rs 8,115 crore. In the interim budget, the revenue was projected at Rs 8,935 crore and presently it has been pegged at ` 10,191 crore. The sales tax out of sale from IMFL is expected to be `7,755 crore and the total revenue will be Rs 17,810 crore.While revenue from commercial taxes during the last fiscal year was `28,614 crore, it has been estimated to be Rs 37,196 crore during the current fiscal year. Revenue from the Stamps and Registration Department is expected to touch Rs 6,490 crore from the previous year’s Rs 4,650. The salaries and pension for government employees constitute 46 per cent of the total expenditure.
Comments
0 comment