CHENNAI: Explaining the salient features of the budget, Finance Secretary N Muruganandam said the focus areas include skill development, employment generation, job-oriented training, infrastructure schemes, industrial parks, etc.
Responding to a question, the Finance Secretary said Rs 50,000 crore in revenue is expected through TASMAC sales during 2023-24. This year, so far TASMAC has earned a revenue of Rs 45,000 crore “This is Rs 9,000 crore more than the previous financial year,” he added.
Asked about sources through which revenue would be augmented during next year, Muruganandam said Rs 12,000 crore is expected through excise duty and Rs 38,000 crore through VAT. The revision of guideline value and a reduction in the registration fee from 4% to 2% is expected to give a fillip to the real estate sector.
We are also expecting revenue of Rs 2,000 crore through this initiative, he said. “Rs 4,500 crore GST compensation is pending from the Centre. Since this has gone for the Accountant General certification, the amount is expected to be disbursed in the ensuing financial year,” he added.