"With higher SOTR (state's own tax revenue) growth, coupled with the phasing out of the impact of Ujwal Discom Assurance Yojana (Uday) and pay revision, the state expects to bring down the revenue deficit in the coming years," says Deputy Chief Minister O Panneerselvam
The interim budget announces various measures like interest subvention on loans to
small businesses and village industries; The proposal to transform one lakh villages into digital villages over the next 5 years is expected to generate jobs.
The government has proposed to give full tax rebate
to individuals having taxable annual income up to Rs 5 lakh with a view to
benefitting around 3 crore middle class taxpayers at an estimated revenue
sacrifice of Rs 18,500 crore.