PMK shadow budget hints at higher tax revenue, growth rate

“In 2020-21 the total revenue for the state will be Rs 4.74 lakh crore which will be higher by Rs 2.19 lakh crore when compared to the previous year. By better management of mineral resources, the state will get an additional revenue of Rs 2.08 lakh crore,” read the shadow budget. The state budget will be presented on Friday and before the annual budget PMK will present a shadow budget for the state which like the state budget will have details of all the departments and the revenue and expenditure and new schemes, plans and announcements for the state.

The shadow budget, presented under 120 topics had 423 announcements, schemes and policies for the state. The shadow budget states that apart from the taxable and non-taxable revenue for the state, the revenue from Centre will be around Rs 63,000 crore, including the share of tax and the subsidies from the Centre.

The shadow budget also predicts that the state will have a total expenditure of Rs 4.81 lakh crore and the revenue deficit will reduce by Rs 6,6162 crore. In the budget, Anna University will be renamed as Anna University Institute of Eminence and the current reservation pattern will continue. A new institute to manage the affiliation for engineering colleges in the name of Anna University (Affiliation) will be formed.

The shadow budget also focusses on providing monetary help for unemployed youth ranging from Rs 1,000 for SSLC failed till Rs 5,000 for postgraduates. Families living below the poverty line will be given Rs 2,500, according to the shadow budget.