Chennai: The State had emerged as the best in finance management in the country as it had employed modern technology like Artificial Intelligence and end-to-end computerization for tax collection using data in various sectors like liquor sales, document registration and mines, Minister for Finance and Human Resources Thangam Thennarasu said on Wednesday.
Replying to the debate on the Supplementary Budget in the Assembly, he blamed the Union Government of betraying the State in fund allocation. While the BJP-ruled States received more funds, Tamil Nadu, despite being on the top in direct tax collection, was deprived of the devolution that was due to it, he said.
For every rupee that Tamil Nadu contributed to the Union Government, it was paid back just 29 paise whereas a State like Uttar Pradesh received Rs 2.73 for every rupee that it gave. Even the compensation for GST loss to the State had been brought down, he said.
Another example of the efficient finance management in the State was that the additional fund allocation sought through the supplementary budget was Rs 2,893.15 crore that was just 0.70 per cent of the total budgetary allocation for the State.
Acknowledging the guidance of the Chief Minister M K Stalin in finance management, the Minister referred to an ancient Tamil poet Pisirandiar, who had mentioned in a Puranaru verse that an intelligent ruler would tax his subjects by following ethical methods and would thus be able to mobilise huge revenue and also provide good governance.
