CHENNAI: Minister for Finance and Human Resource Management Palanivel Thiaga Rajan, while replying to the grants for the first supplementary estimates for 2022-2023 on Tuesday, said that due to effective financial management, the State government’s fiscal deficit has been reduced to 3.38% from last years’ fiscal deficit of 4.61%.
The minister said the revenue deficit has been reduced by Rs 9,000 crore from the final estimates. He added that because of this, Tamil Nadu has managed to reduce the interest rate for the debt by Rs 1,240 crore per year.