Union Budget 2025: Tamil Nadu to receive higher amount as share of Central taxes
The Hindu
Tamil Nadu would receive a higher amount as its share of Central taxes as per the Union Budget for 2025-2026, presented by Finance Minister Nirmala Sitharaman on Saturday (February 1, 2025), when compared to the revised estimates for 2024-2025.
Tamil Nadu would receive a higher amount as its share of Central taxes as per the Union Budget for 2025-2026, presented by Finance Minister Nirmala Sitharaman on Saturday (February 1, 2025), when compared to the revised estimates for 2024-2025.
Tamil Nadu’s share of Central taxes is 4.079%, as recommended by the 15th Finance Commission. The amount to be received by the State as the share of the Central taxes has been increased to ₹52,491.88 crore in the revised Union Budget estimates for 2024-25 from ₹50,873.76 crore in the initial estimates. For 2025-2026, the Union Budget has estimated Tamil Nadu’s share of Central taxes at ₹58,021.50 crore. The finer details would be known when the State presents its Budget for 2025-2026.
The DMK government has been pointing out that the State has been getting a much lower share of Central taxes due to the levy of cesses and surcharges.
States were allowed a Fiscal Deficit (the difference between total receipts and total expenditure) of 3% from 2023-24 onwards. An additional borrowing of 0.5% of GSDP was allowed for a period of four years from 2021-22 to 2024-25 on fulfilment of Power Sector Reforms.
Now, the Union Finance Minister has announced that additional borrowing of 0.5% of GSDP will be allowed to States, contingent on them undertaking electricity distribution reforms and augmentation of intra-state transmission capacity.
Other announcements such as Developing Agri Districts Programme, focused product scheme to be implemented for footwear and leather sector, scheme to make India a global hub for toys, measures to boost MSMEs, Manufacturing Mission, Clean Tech Manufacturing, measures to boost tourism, national framework to be formulated as guidance to States for promoting Global Capability Centres in emerging tier 2 cities, among others are likely to benefit Tamil Nadu.
An outlay of ₹1.5 lakh crore is proposed for the 50-year interest free loans to States for capital expenditure and incentives for reforms, besides incentives to boost domestic manufacture of lithium-ion battery, both for mobile phones and electric vehicles would also benefit Tamil Nadu.
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