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Updated: February 14, 2014 04:41 IST

Tamil Nadu budget accords priority to social sector

  • B. Kolappan
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Finance Minister O. Paneerselvam on his way to present the budget on Thursday. Photo: V. Ganesan
The Hindu
Finance Minister O. Paneerselvam on his way to present the budget on Thursday. Photo: V. Ganesan

The Tamil Nadu Budget for 2014-15, presented by Finance Minister O.Panneerselvam, also laid considerable emphasis on development of agriculture, MSMEs and infrastructure sectors.

The economic slowdown that marred the State’s Own Tax Revenues notwithstanding, the Tamil Nadu Budget for 2014-15 has set aside a major share for the social sector.

The Budget, presented by Finance Minister O.Panneerselvam, on Thursday also laid considerable emphasis on development of agriculture, MSMEs (micro, small and medium enterprises) and infrastructure sectors.

As much as 37 per cent of the allocation is towards the social sector, Finance Secretary K.Shanmugham said in his post-budget press briefing. The budget was without fresh taxes and Mr. Panneerselvam squarely blamed the Centre for its failure to stimulate growth and economic stagnation.

He said though there were signs of revival with the State’s economic growth expected to exceed five per cent during 2013-14, massive efforts were needed to stimulate the economy to put it back on the path of accelerated growth. Mr. Panneerselevam said while the State government had been striving hard to ensure equitable growth, the Centre’s failure to stimulate growth and to improve the failing macro-economic environment continued to adversely impact investments consecutively for the second year.

“The continued economic stagnation has also caused a substantial shortfall in the State’s projected tax revenues,” he said.

Mr. Panneerselvam said it had become a “daunting task” for the State government to adhere to the Tamil Nadu Fiscal Responsibility (TNFR) Act target without impinging on the State’s ability to invest in critical sectors.

“But a positive sign is that the power situation has already improved significantly in the State and industrial growth is showing recovery,” he said.

“Further, with the proposed investment of Rs. 42,185 crore under Plan schemes during 2014-15, Plan expenditure will cross Rs 1.07 lakh crore, as against the overall 12th Plan target of 2.11 lakh crore,” he said.

The government will construct 62 shelters for homeless destitute persons in urban areas, and 45 existing shelters will be upgraded through the TNULM.

The allocation for pensionary benefits is Rs. 16,021 crore. The monthly maintenance allowance given to differently-abled persons will be increased to Rs. 1,500 from Rs. 1000 from the next financial year.

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Amma pharmacy is a welcome move , people will definitely benefit from
such Govt run medical shops .what cannot be gutted and in fact
nauseous is the sycophantic acts of the ministers around her,their
acts at times will superseded the best of buffoons . Amma of course
has the capacity and ability to be a PM ( if Deva gowda can , who else
can not ), her antipathy towards 'others' and these barefoot ministers
will not help. Make TN prosperous for people to see ,then destiny will
take her to achievable heights.

from:  srini
Posted on: Feb 13, 2014 at 23:11 IST

What our Civil Society want is “Action Taken Report” on the previous budget speech. Many schemes announced in the earlier budgets have not been completed fully, or in a half way mark, or not at all started irrespective of the Party in power. For instance, Drainage Scheme started in the year 2010 in many Wards of Tambaram Municipality have not been completed and roads laid till date though more than 4 years have been lapsed. Similarly, in the last Budget an announcement was made on “Cashless Medical Scheme” to Govt. Pensioners on par with serving Employees have not been implemented till date though a year has been lapsed. There are like many Schemes announced in the previous Budgets are not completed well within the stipulated period which ultimately lead to escalation of costs etc. consequently lead to waste of tax-payers’ money. The system of Budget & its execution must change now in tune with Technological Development

from:  Venkat
Posted on: Feb 13, 2014 at 17:53 IST

This budget without new levies are expected from all governments including the Central government. The governments have allowed the people to suffer a lot by wrong economic policies. State governments have misused the tax payers money to vote catching schemes. Central government did not lag behind in this.
They allowed rich merchants to export the onions without caring for the spiralling price of this commodity.Dozens of scams were exposed during the last four or five years.How many ministers had to leave their posts due to their own misdeeds, How many were tranferred to other departments due to corporates'manipulation,are known to all.This budget is temporary.They will revise it soon after election.Voters, Beware of Politicians.Vote the right candidate. If none is fit, press NOTA

from:  Hariharan
Posted on: Feb 13, 2014 at 16:06 IST
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