COVID-19 IMPACT: TN TO FACE FISCAL DEFICIT OF RS. 85,000 CRORE - CM EDAPPADI PALANISWAMY DETAILS

With rise in coronavirus cases and lockdown in the state, Tamil Nadu Chief Minister K Palaniswami said that the state would face a fiscal deficit of about Rs 85,000 crore in view of revenue losses. 

While speaking to reporters on Friday, Palaniswami stated that there was no revenue for the government in the past two months. There have also been revenue losses as industries and other businesses did not function.

With revenue losses of about Rs 13,000 to Rs 14,000 crore a month, our Finance Secretary has said that there would be a fiscal deficit of approximately Rs 85,000 crore," he further added. 

After chairing an official meeting to review the COVID-19 situation and measures, Palaniswami, further asserted that the government would offer full assistance and help people to the maximum possible extent.