Tamil Nadu budget 2019: Here are the Highlights
Chennai, Feb 07: Amidst expectations of populist announcements by the ruling AIADMK government ahead of the Lok Sabha polls, Tamil Nadu Deputy Chief Minister and finance minister, O Panneerselvam presented the state budget for 2019-2020 in the Assembly on Friday. The budget session began from 10 am.
The speech of the Finance Minister is expected to go on for two hours.
Here are the highlights from his budget speech:
- Revenue deficit expected to be Rs 14,315 crore against Rs 1,919 crore due to better revenue receipts
- Per capita income in Tamil Nadu has increased to Rs 1,42,267 per annum
- Rs 100 crore has been allocated for horticulture
- A frozen semen station for animals will be set up at a cost of Rs 100 crore.
- Rs 18,700 crore has been allocated for Municipal Administration and Water board
- Revenue is expected to grow by 14 per cent.
- Rs 172.06 crore has been allocated towards farm mechanization
- Rs 1252.41 crore has been allocated for animal husbandry and Rs 258.45 crore towards dairy.
- State economic growth is estimated at 8.1 per cent
- Rs 300 crore has been allocated for desilting of lakes in the state
- Rs 10,000 crore has been set aside for offering farm loans
- Rs 250 crore has been set aside for payment of premium under accident cum life insurance scheme
- Rs 621.59 crore has been allocated towards crop insurance scheme
- Rs 3,958 crore has been allocated towards social security pension
- Finance deficit is estimated to be Rs 44,176 crore for 201920 for the state.
- Tamil Nadu government to introduce 500 electric buses.
- Expenditure is estimated to be at Rs 2,08,671 crore
- Gaja cyclone relief: 1 lakh houses at a cost of Rs 980 crore to be built.
- Rs 5,178 crore for local and municipal bodies across Tamil Nadu
- Arts and science college in the name of former President A P J Abdul Kalam in his home town of Rameswaram
- Rs 12,563 crore for Health Department
- Rs 10,500 crore for Agriculture sector and Rs 100 crore for Anna University
- Integrated parking will be will be set up at a cost of Rs 2,000 crore in Chennai under the Public-Private-Partnership
In recent months, Tamil Nadu has also been witness to various sections of the government's staff participating in protests and strikes, demanding higher minimum wages even as the state is in the throes of a financial crunch.
In an Assembly session earlier this year in January, the Deputy Chief Minister revealed that the state's revenue deficit was expected to touch Rs 23, 921, over Rs 6,000 crore more than the previous year.