Revised State budget for 2016-17 will be presented in the Assem
The revised State budget for 2016-17 will be presented in the Assembly on July 21. In the interim budget presented before the Assembly elections, the revenue deficit was put at Rs. 9,154 crore and the fiscal deficit at Rs. 36,740 crore.
While the Opposition is likely to raise the issue of huge deficit, harp about the overall debt and increased borrowing, the State government will be staunchly arguing that the State’s finances are still under control, claiming that it has adhered to the norms under fiscal indictors, including that of outstanding loans for the past five years.
The session is likely to be stormy with the ruling AIADMK having to face a strong opposition from the DMK, whose MLAs are expected to take on the government on various issues like alleged deterioration of law and order, the Palar river dispute, implementation of the seventh pay commission, and the need to revert to old pension scheme.