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Tamil Nadu 1 min read

CAG report on Tamil Nadu finances 2024-25: GSDP grows 15.98%, debt reaches ₹8.53 lakh crore

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The CAG report "State Finances for the year 2024-25" was tabled in the Tamil Nadu Assembly. GSDP grew 15.98% against 13.34% in 2023-24, and the State contributed 9.43% of India's GDP. Total debt touched ₹8.53 lakh crore, a debt-to-GSDP ratio of 27.38%, within the 28.90% ceiling. The revenue deficit rose from ₹45,121 crore to ₹45,840 crore, missing the 15th Finance Commission's revenue-surplus projection. Committed spending on salaries, pensions and interest was ₹1,76,676 crore (53.75% of revenue expenditure). Subsidies, 16% of revenue expenditure, rose ₹14,854 crore (39.35%), driven by Magalir Urimai Thogai and farm pump-set power subsidy.