more-inThe Tamil Nadu government has indicated that the revenue deficit will increase over and above the budgeted ₹15,930 crore for the first six months of this financial year. Implementation of the Seventh Pay Commission is cited as one of the major reasons for this increase. The state excise tax collections up to September 2017 stood at ₹2,765 crore against ₹3,061 crore for the same period in 2016. The collections up to September 2017 was ₹4,324 crore compared to ₹4,374 crore last year. It has made an upward revision in the state excise duty on Indian Made Foreign Liquor (IMFL) and also revised its base rate.

Source: The Hindu January 12, 2018 19:57 UTC