Precision Technology Center Chief Minister Stalin inaugurated the Precision Engineering Technology Center.
The government announced that a Mega Cluster scheme worth Rs. 100 crores will be implemented in 5 locations across Tamil Nadu to enhance the production capabilities and encourage innovations of micro, small and medium enterprises, and to help them enter emerging industrial sectors.
According to this plan, a Precision Manufacturing Cluster was planned to be established in Thirumudivakkam Industrial Estate in Kanchipuram district of Chennai region, in collaboration with entrepreneurs' association. This center is considered a hub for creating precision engineering parts used in autonomous vehicles, machinery, and electrical and electronic equipment.
For the first time in South India, a Precision Engineering and Technology Center has been established at the Thirumudivakkam SIDCO Industrial Estate. Tamil Nadu tops the table in growth of SGST collections
Growth in SGST Collections: Tamil Nadu saw a 20.12% growth in State Goods and Services Tax (SGST) collections in the first half of 2024-25, reaching ₹35,414.05 crore from ₹29,481.97 crore in the previous year.
Top Performer: This growth rate is the highest among key comparable states, with Gujarat and Uttar Pradesh recording over 14% growth, Maharashtra 13.46%, and Karnataka over 10%.
SGST Contribution: SGST accounts for roughly half of the States’ own tax revenue (SOTR).
Key Growth States: Tamil Nadu, Assam, Maharashtra, Uttar Pradesh, and Karnataka showed significant year-on-year growth (13.3%-50.8%). State Goods and Services Tax (SGST)
SGST is a tax applied within the GST framework on transactions within a state.
It is imposed by the state government where the goods or services are consumed, making it an intrastate tax.
SGST is regulated by the state's SGST Act of 2017 and is subject to periodic revisions.
The introduction of SGST consolidated various…