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Rs 35K cr tax revenue loss estimated for state: TN CM

Rs 35K cr tax revenue loss estimated for state: TN CM

Chennai, May 23 (SocialNews.XYZ) Tamil Nadu Chief Minister K. Palaniswami on Saturday said the state would be losing about Rs 35,000 crore tax revenue due to the Covid-19 induced lockdown, and the government is taking various austerity measures.

He also said the Central government is giving some funds but not what that state government had asked.

 

Speaking to reporters in Salem, Palaniswami said the finance department has said there will be tax revenue loss of about Rs 35,000 crore.

He said the Central government has said that it will be give the state's share of Goods and Services Tax (GST). During the months of April and May and for the last seven days of March, the state's share of GST has come down.

Palaniswami said the government is taking all necessary developmental actions so that employment generation is intact.

Queried about lockdown relaxations after May 31, Palaniswami said one has to see the Central government's announcement. Based on the medical expert committee's recommendations, action will be taken.

Source: IANS

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Rs 35K cr tax revenue loss estimated for state: TN CM

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