Chennai, Aug 3 (UNI) Tamil Nadu Chief Minister M Karunanidhi today said the fiscal deficit of the State was well within the limits prescribed by economic experts and the Centre.
In an epistle to the DMK workers on the two-and-a-half-year-old performance of his Government, Mr Karunanidhi said the total fiscal deficit increased to Rs 9,792 crore in the current year, which was only 2.98 per cent when compared to the State's total productivity.
''Though there has been a significant increase in the Government expenditure, it is pertinent to note that the fiscal deficit is well within the limits prescribed by the economic experts and the Central Government,'' he added.
He said the revenue receipts both from the State and the Centre had increased by 17,546 crore to Rs 51,506 after the DMK came to power in May 2006 as against Rs 33,960 crore during the 2005-06 AIADMK regime, he added.
Due to various welfare schemes announced by the DMK Government, the revenue expenditure increased to Rs 51,422 crore during the current year from Rs 32,009 crore in 2005-06, while the capital expenditure went up to Rs 9,373 crore in 2008-09 as against Rs 4,055 crore in 2005-06, as the State had taken up basic infrastructural development works, the Chief Minister said.
''Despite the increase in expenditure, the fiscal deficit is well within the prescribed levels,'' he added.
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