TN to wipe out revenue dificit by 2011-12 fiscal end

Posted By: Pti
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Chennai, Feb 5 (PTI) Backed by a positive growth, Tamil Nadurevenue deficit would be wiped out completely by the end offinancial year 2011-12, Financial Secretary K Shanmugam saidtoday.

The state would have revenue surplus of Rs 439 crore by theyear end, he told reporters here.

"After the global financial crisis, the revenue growth ofthe state is good and payment of the Sixth Pay Commissionarrears has also given the state good financial position..,"he said.

Highlighting the salient features of the interim budgetpresented by Finance Minister K Anbazhagan in the Assemblytoday, Shanmugham said the Gross State Domestic Product wasexpected to be more than 10 per cent in 2010-2011.

"The per-capita income has increased from Rs 39,692 in2005-06 to Rs 69,377 in 2009-2010", he said.

The Gross State Domestic Product ratio which was 22.29per cent by 2005-06 would come down by 19.58 per cent at theend of 2010-11.

Shanmugham said for the distribution of free colour TVsets, the state had spent Rs 3,716 crore for procuring1,62,80,000 CTVs so far. Steps were also taken to procure 10lakh more CTVs at an estimated cost of Rs 249 crore.

Asked about the Kalaignar Live Saving Health InsuranceScheme for below poverty line families, he said 2,70,265persons had benefitted so far and the cost of the treatmentwas Rs 702 crore.

On the industries front, he said the total investmentsmade in the state stood at Rs 52,195 crore over the lastfive years.

Software exports income rose to Rs 36,766 crore during2009-10 from Rs 13,586 crore during 2005-06, he said.

For setting up Integrated Information Technology parks inChennai and also in Tier-II cities, the Government hadallocated Rs 338 crore, he said.

On the ambitious Chennai Metro Rail project, he said thestate had allocted Rs 750 crore for this project during2011-12. The total outlay of the project was Rs 14,600 croreand so far Rs 1,452 crore had been released.

He also said the government had allocated Rs 2,250 crorefor the year 2011-12 for the "Kalaignar Veedu VazhangumThittam" (housing project), one of the pet projects of ChiefMinister M Karunanidhi.

In the interim budget presented today, Rs 375 crore havebeen allocated to convert 2.5 lakh huts into concrete housesin town panchayats under the scheme, he said.

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