CHENNAI, MARCH 19
The Tamil Nadu Budget for 2022 – 23 has been designed to ensure flow of adequate funds to priority sectors, boost growth and fulfil the aspirations of society, Finance Minister Palanivel Thiaga Rajan said on Friday.
Now that the economy is bouncing back, there’s a need to rebalance the priorities and focus on social infrastructure and development without compromising on welfare schemes, he said. The Budget focussed on enhancing the growth rate of primary sector, strengthening social safety net, making youth employable by specific interventions at school and college level, creating job opportunities by attracting new investments and encouraging existing entrepreneurs, he said.
I’m glad people are taking such keen interest in how their (public) money and assets are managed….such progress encourages us to improve our communications/outreach even further
https://t.co/G7HmVBnUcC
— Dr P Thiaga Rajan (PTR) (@ptrmadurai) March 19, 2022
Empowering women through education and better livelihood opportunities and elimination of poverty through inclusive growth were also in focus.
- FIEO-SR president A Sakthivel says the budget is futuristic with long-term vision of Chief Minister M K Stalin to reach USD 100 billion by 2030.
The capital expenditure, including net loans and advances, is estimated at Rs 43,832.54 crore to increase employment opportunities. This is 23.28 percent higher than the revised estimates of 2021-22. An allocation of Rs 36,895.89 crore has been made to the School Education Department for infrastructure in government schools by constructing 18,000 new classrooms, establishing smart classrooms in primary schools and state-of-the-art computer labs in others.
The Higher Education Department with an allocation of Rs 5,668.89 crore would create a knowledge economy by further developing the skilled human resources by building a knowledge city through international collaboration. Further, universities would be encouraged to set up research parks on campuses in collaboration with public sector TIDCO, SIPCOT and TANSIDCO. Infrastructure in government colleges and polytechnics would be improved over the next five years.
A sum of Rs 2,531 crore for waiver of agricultural loans, Rs 1,000 crore for waiver of jewel loans and Rs 600 crore for waiving self-help group loans have been allotted. While Rs 10,285.22 crore has been earmarked for the police, Rs 7,474.94 to the Revenue and Disaster Management Department, Rs.1,314.84 crore to the Animal Husbandry Department, Rs 496.52 crore has been allotted to Fire and Rescue Service.
Apart from establishing a botanical garden for Rs 300 crore near Chennai in partnership with Kew Gardens of London, the government proposes to set up Tamil Nadu Green Climate Change Fund to mobilise resources from various sources, expand the habitat of Nilgiri Tahr with Rs 10 crore, set up a Children’s Nature Park at a cost of Rs 20 crore to house birds, butterflies and animals by remodeling the Guindy Children’s Park.
About Rs 18,218.91 crore has been allocated to the Highways and Minor Ports Department. The government said it would implement the Maduravoyal – Chennai Port Elevated Corridor Project, construct a 20.6-km-long double-decker elevated corridor at a cost of Rs 5,770 crore besides construct a grade separator with elevated rotary at Kattupakkam junction for Rs 322 crore.
Causeways would be converted into high-level bridges by 2026 at a cost of Rs 1,000 crore in the coming year. A sum of Rs 17,901.73 crore has been allocated to the Health and Family Welfare Department while Rs 5,922.40 crore has been allocated to the Social Welfare and Women Empowerment Department and Rs 4,281.76 crore to the Adi Dravidar and Tribal Welfare Department.
A sum of Rs 1,230.37 crore has been allocated to the Backward Classes, Most Backward Classes and Minorities Welfare Department. Allocation of Rs 3,267.91 crore has been made to the Industries Department, Rs 199.60 crore to the Information Technology Department, Rs 246.06 crore to Tourism, Art and Culture Department, Rs 340.87 crore to Hindu Religious and Charitable Endowments Department.
An additional expenditure of around Rs 19,000 crore would be incurred during the coming financial year as a result of increase in dearness allowance and delayed expenditure due to increase in retirement age for government employees.
TN budget will lead to overall economic development, say export organisations
Welfare measures announced in the Tamil Nadu Budget presented by the Finance Minister of the State Palanivel Thiaga Rajan would help in its overall economic development, an official of the Federation of Indian Export Organisations, southern region (FIEO-SR) said on Friday.
FIEO-SR president A Sakthivel said the budget was futuristic with long-term vision of Chief Minister M K Stalin to reach USD 100 billion by 2030.
“The budget will help in creating a large number of job opportunities by attracting new investments and encouraging existing entrepreneurs to do more,” he said in a press release.
He congratulated the Chief Minister for steering the State through the path of progress irrespective of the challenges posed by Covid-19 pandemic.
“The Naan Mudhalvan Scheme envisaged by the Chief Minister will help industry to get right kind of talent pool for enabling industries to absorb (the talents),” he said.
The proposed policy to strengthen the leather and footwear sector would also generate employment opportunities besides boosting exports, he said. While presenting the budget, Rajan said a new footwear and leather industry development policy would be released to promote these employment-intensive sectors.
