'TN would incur a huge revenue loss due to lockdown' - says CM EPS!

The Coronavirus pandemic and the lockdown aftermath of the outbreak have left the state of Tamil Nadu to incur and endure a huge loss in the tax revenue burdening the government to formulate the revival strategies without loosening the grip on the COVID-19 fight. 

While addressing the reporters in Salem on Saturday, Tamil Nadu Chief Minister Edappadi Palaniswami has said the state would be losing about Rs 35,000 crore tax revenue as a sequel of the lockdown. The state finance department has estimated the revenue loss that largely due to the decline in the Goods and Service Tax (GST). The state's share of the GST has fallen during the last week of March and for the months of April and May.

The revelation has come when the state government has been pressing the Center to release the dues and pending shares of GST to the state. By citing that the funds from the Center have been released in installments, the Chief Minister has stated that the Modi-led Central government has given assurance the dues of GST would be given to the state. 

The Chief Minister asserted that the state government has been rolling out the adequate and essential steps with the view of pillaring the employment generation in the state and he iterated that the government has been taking necessary and preventive measures to grip up the development plans while countering the Coronavirus pandemic. 

Edappadi Palaniswami hasn't given surety that the lockdown would be revoked in the state after May 31st. He stated that the decision on extending or ending the lockdown would be taken with accord to the recommendations of the medical expert committee and the announcement of the Central government. 

The Chief Minister further added that the state has been doing the highest number of COVID-19 testing in India. According to the reports the state has tested 4,09,615 samples as of Sunday. By backing the government's decision of conducting class 10 board exams from June 15, the Chief Minister claimed that the decision was taken based on the public request and the exams would be conducted with accord to the directions of the Central government.

 

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