Tamil Nadu budget updates
Tamil Nadu Finance Minister D. Jayakumar is presenting his maiden Budget on Wednesday. This also marks the first budget of the E. Palaniswami-headed AIADMK government.
Earlier, Leader of Opposition M.K. Stalin objected to the mention of AIADMK General Secretary Sasikala’s name in the Budget. He wanted the reference to be removed as she has been convicted and lodged in jail.
Floor Leader K.A. Sengottaiyan said there was nothing wrong in mentioning the name. The House resumed after brief interruptions.
12:18 pm: An estimated 48% of population lives in urban areas, says Mr. Jayakumar. Rs. 1400 crore have been allocated for Smart Cities Mission. Rs.563 crore has been allocated for Urban Development.
12:15 pm: The compulsory work days under MGNREGA scheme has been increased from 100 days to 150 days.
12:10 pm: Free dhoti and saree scheme will be implemented at the cost of Rs.490 crore .
The handloom sector has been allocated 1235 crore and Rs. 194 crore for Khadi and handicrafts.
An Urban Haat will be set up in Ooty with Rs. 5 crore.
12:05 pm: A look at some mar allocations so far.
Rs.532 crore for MSME sector
Rs. 250 crore for Athikadavu-Avinasi link project.
Rs. 40 crore for setting up a new dairy processing factory in Madurai.
Rs.1000 crore for MGNREGA schemes.
Rs. 860 crore for fisheries.
12:03 pm: In the Global Investment Summit 97 MoUs were signed. We will have a GIS this year too.
12:02 pm: Tamil Nadu continues to remain the number one state in ITeS. Tamilnadu Investment Promotion Programme Phase II will get underway this year.
11:50 am: Tamil Nadu has been self-sufficient in electricity production and distribution. Tamil Nadu is the major producer of electricity through wind mills.
Tamil Nadu is saving Rs. 1335 crore by joining with Central government’s UDAY scheme.
11:49 am: Nine arterial roads connecting Chennai and its suburbs running to 141.60 km will be expanded. Rs. 200 crore will be alloted for construction of bridges. NABARD will fund the scheme.
11:45 am: All flagship schemes of Jayalalithaa including Amma canteens, Amma salt, Amma Pharmacy and vegetable outlets will continue, says Mr. Jayakumar.
11:40 am: Rs. 3,14,366 crore – that’s Tamil Nadu government’s debt. A major chunk of it belongs to Tangedco’s debt takeover and implementation of Seventh Pay Commission.
11:34 am: Government is committed to bring back green cover to Vardah-affected districts of Chennai, Kancheepuram and Tiruvallur. With a fund of Rs. 13 crore, indigenous species of trees will be planted.
Rs.567 crore have been allocated for Environment and Foresty.
11:33 am: Even though Tamil Nadu has come under the ambit of Fod Security Act, we will continue to provide subsidied toor dhal. masoor dhal and oil. Rs. 5,000 crore have been allocated to this.
11:30 am: The earlier government headed by Jayalalithaa had waived off farm loans taken by farmers through cooperative societies. 12.07 lakh small and marginal famers have benefitted from this scheme. This year, Rs. 7000 crore loans will be handed over through cooperative banks.
11:27 am: The relief for fisherfolk during non-fishing season has been increased to Rs. 4500 per month for Rs. 2700. The Budget has also increased the quota of diesel and kerosene for fishing.
A new fishing harbour will be set up in Ramanathapuram at the cost of Rs. 113 crore. Rs. 20 crore alloted for checking coastal erosion.
11:25 am: 3.5 lakh poor families will be given free land pattas. This was one of AIAFDMK’s poll promise.
11:20 am: Farmer Producers Organisation will be set up to bring in small and marginal farmers together as a cooperative organisation. Each such organisation will be given Rs.50 lakh. Rs. 100 crore has been allocated for this initiative and government hopes to bring in 40 lakh farmers into this scheme.
11:19 am: Tax realisation in commercial taxes expected to improve due to revision of tax rates on petrol and diesel.
11:12 am: Next Global Investors Meet to be held in 2017-18, Rs. 75 crore earmarked for the purpose.
Three Metro rail corridors under Phase 2 covering 107.5 km included in JICA rolling plan. A detailed project report has been prepared for it.
11:10 am: Rs. 282 crore has been allocated to Prisons. Rs. 984 crore have be allocated for Judicial administration. Funds have been allocated for digitisation and court infrastructure.
11:07 am: Allocating Rs 6,400 crore for Police, the Budget says 10,500 people will be added to the police force. As many as 3000 houses will be constructed for police force. Rs. 253 crore has been alloted for fire and rescue service.
11:05 am: The budget allocates Rs.48 crores for development of Tamil
11:00 am: Rs. 469 crores being alloted for eradicating poverty in rural areas. Rs. 272 crore being alloted for eradicating poverty in urban areas. A Tamil Nadu Rural Transformation Project will be undertaken in 127 rural districts with a fund of Rs. 1000 crore from World Bank.
10:58 am: The Budget allocates Rs.150 crore to give vocational training to youth.
10:55 am: Rs. 585 crore given for three districts affected by Cyclone Vardah. Through the State Disaster Fund we are providing Rs. 2600 crore relief to farmers through direct benefit transfer. The Budget also allocates Rs. 625 crore for providing drinking water across the State.
10:50 am: Since the GST will be across the country, we may lose our revenue. But the Centre will compensate the loss for the first five years, says Mr. Jayakumar adding that the government will decide the threshold of taxes under State GST. A Bill will be tabled soon.
Tamil Nadu’s own tax revenue estimated to be Rs. 87,287 crore in revised estimates 2016-17. It is estimated to increase to Rs. 99,590 crore in budget estimates for 2017-18.
10:49 am: The Budget pegs growth at 9 per cent from existing 7.49 per cent. Tamil Nadu’s fiscal deficit is 4.58% of GSDP for 2016-17, breaching norms prescribed in the TNFRA. Tamil Nadu fiscal deficit expected to come down for 2017-18 to less than 3% of GSDP.
State Planning Commission will be replaced with State Development Policy Council. The Council will advise the government on policy coherence and formulation of porgrammes to guide development of State
10:40 am: Mr. Jayakumar informs the five government orders recently signed by Chief Minister Palaniswami. He says 55 out of 124 poll promises of AIADMK has been fulfilled so far.