Tamil Nadu’s budgeted fiscal deficit for FY24 has risen to ₹92,075 crore, which is 3.25 per cent of the Gross State Domestic Product and within the XV Finance Commission limit of 3.5 per cent of GSDP. Although the outstanding debt has crossed ₹7-lakh crore, accounting for 25.63 per cent of GSDP in 2023-24, this is also within the limits. However, the nominal growth assumed for FY24 is too optimistic at 14 per cent, which has resulted in the State’s own tax revenue growth being budgeted at 19 per cent