₹10.98L Cr Debt: SIMA Seeks Help
Tamil Nadu's textile industry appeals for budget support as state plans to borrow ₹1,73,445 crore in 2026-27.
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Tamil Nadu's total revenue receipts revised upwards by ₹5,452 crore to ₹3,50,027 crore.
Tamil Nadu's total revenue receipts revised upwards to ₹3,50,027 crore.
Tamil Nadu's total revenue receipts revised upwards to ₹3,50,027 crore.
Tamil Nadu's total revenue receipts revised upwards to ₹3,50,027 crore.
Story published. Tamil Nadu's textile industry appeals for budget support as state plans to borrow ₹1,73,445 crore in 2026-27.
The Southern India Mills’ Association (SIMA) has requested budgetary support from the Tamil Nadu government to address the demands of the state’s textile industry. The appeal comes as part of the state’s broader fiscal and policy announcements for the financial year 2026-27.
Tamil Nadu Finance Minister N. Marie Wilson presented the Chief Minister C. Joseph Vijay-led government’s maiden budget in the State Assembly on August 5, 2026. The state’s outstanding debt is estimated at ₹10.98 lakh crore, with a debt-to-GSDP ratio of 27.01%. For 2026-27, the government plans to borrow ₹1,73,445 crore and repay ₹51,971 crore.
The budget includes sector-specific allocations, such as ₹4.26 crore for a Market Intervention Scheme to protect farmers from price crashes of perishable crops like tomatoes and onions. Additionally, ₹16 crore was allocated for a special scheme supporting coconut farmers in pest management, productivity improvement, and value addition. A ₹22.3 crore allocation was made to establish the Tamil Nadu Coconut Processing Corporation for post-harvest infrastructure and exports.
On August 7, 2026, the Tamil Nadu Assembly adopted a resolution urging the Union government to ensure fair devolution of central taxes based on fiscal federalism principles. The same day, the government introduced a Bill to levy an Environmental and Social Welfare Cess on alcoholic liquor sales to fund recycling, de-addiction, and environmental initiatives.
