CAG flags revenue-expenditure mismatch, rising fiscal deficit in TN, faults diversion of funds for Dalits, Tribals

Chennai, Oct. 17 -- Raising concerns over the receipt-expenditure mismatch in Tamil Nadu government resulting in fiscal stress,the report of the Comptroller and Auditor General (CAG) of India for 2023-24, today said that the fiscal deficit of the State stood atRs 90,430 crore (3.32 percent), exceeding the target of 3 percent set under the TN Financial Regulation Act.

The overall debt of the State has grown at the rate of 15.62 percent annually of the outstanding overall debt between 2019-2023-24,the report tabled in the State Assembly today at the close of the session, said.

Further, Debt-GSDP ratio has jumped to 28percent from 24.35 percent in 2023-24, the report pointed out.

With public debt (borrowings) and debt servicing increasing b...