Total Pageviews

Thursday, March 16, 2017

Tamil Nadu State Budget for 2017-18 presented Thursday March 16,2017

Tamil Nadu Finance Minister D. Jayakumar presented his maiden Budget on Thursday March 16,2017

This is also the first budget of the AIADMK government headed by Edappadi K  Palaniswami.
Earlier, Leader of the Opposition in the Assembly 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
Budget Highlights
Rs. 1,59,363 crore - total revenue
Rs. 175293 crore - total expenditure
Rs. 15,930 crore - fiscal deficit
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.
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
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.
All flagship schemes of Jayalalithaa including Amma canteens, Amma salt, Amma Pharmacy and vegetable outlets will continue
The major source of income for the State in Value Added Tax. Since the GST will replace VAT, there will be a loss in the revenue, which will be compensated by the Centre.
Rs. 6900 crore will be earned through TASMAC.
The government will earn Rs. 99,598 crore income from taxes and Rs. 12,318 crore through non-tax earnings.
The State Government will pursue Centre to grant dual citizenship to Sri Lankan refugees.
SC/ST Ministry will set up two model residential schools at Javvadhu Hills along with Teachers quarters. As many as 30 SC/ST hostels will be set up.
A total of Rs. 3680 crore has been alloted for Scheduled Castes welfare and Rs. 265 crore for Scheduled Tribe welfare.
9.46 lakh students get enrolled in higher education every year. Rs.680 crore has been allocated to fund the education of first-generation under-graduate students.
256 new primary schools have been started. Rs.26,932 crore have been allocated for school education.
Rs. 1348 crore has been allocated for Chief Ministers Comprehensive Health Insurance Scheme.
The allowance for pregnant women has been increased to Rs.18,000.
10 new pharmacies will be set up to sell generic drugs. This is help in reducing the spending on medicines.
post-graduate medical seats increased to 1362.
In total, Rs. 10150 crore has been allocated for healthcare.
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.
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.
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.
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.
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.
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.
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.
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.
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
 In the Global Investment Summit 97 MoUs were signed. Next Global Investors Meet to be held in 2017-18, Rs. 75 crore earmarked for the purpose.
Before presenting the budget,Tamil Nadu Finance Minister D Jayakumar pays his respects at the memorial of late AIADMK supremo J Jayalalithaa prior to presenting his first Budget 2017-18 in Chennai on Thursday

Tamil Nadu Finance Minister D Jayakumar arrives with CM Edappadi K Palaniswamy to presenting his first Budget 2017-18 in Chennai on Thursday

No comments:

Post a Comment