Dismissing critics who had expressed misgivings about her government's ‘Vision 2023', Chief Minister Jayalalithaa on Wednesday said that it was her ideal project which had achievable components and its aim was the welfare of the people of Tamil Nadu.
Making a suo motu statement in the Assembly, Ms. Jayalalithaa disagreed with critics, including DMK president M. Karunanidhi and DMDK member K. Pandiarajan, who had questioned the possibility of achieving the vision.
Explaining that the project had three components - Overall Vision Document, Compilation of Project Profile and Road Map - the Chief Minister said her government would set up an Infrastructure Development Board to study extensively, prioritise and implement the schemes in the second component.
The projects would be implemented either as exclusive government schemes or in annuity method or in Private Public Partnership (PPP) with investment from private sector. Some projects would be executed fully by the private sector.
She said that Rs.8,500 crore for the first phase of the Mono Rail Project and Rs.1,000 crore for Outer Ring Road-II would be fully funded by private investment. “That is why no fund was allotted for these schemes in the Budget.”
Ms. Jayalalithaa said that the investment for the 11-year project would be Rs.15 lakh crore. Beginning with Rs.25,393 crore in 2011-12, the investment for Vision 2023 in 2022 would touch Rs.2,37,690 crore.
As per the project report, around 60 per cent of the financial resource would come from the government. “The money will come not only from capital expenditure account but also capital of the private sector under the annuity method. Though there will be heavy investment under PPP, the expenditure by the government will be less.”
The government had allocated Rs.28,000 crore for project works, including Rs.20,856 crore for capital work alone. “Most of the funds will be utilised for laying roads, providing electricity, urban development schemes, infrastructure for agriculture development, health schemes and education. And majority of the schemes have been included in Vision 2023.
“Assuming that the investment to be Rs.2 lakh crore in the Five-Year Plan beginning the current year, the investment will be doubled in the 11 Five Year Plan and Rs. 6 lakh crore will be spent for capital works. This will clearly explain that it is not difficult to mobilise funds for Vision 2023.”
Ms. Jayalalithaa said as the economy of the State grew further, the government could mobilise more funds and increase investment.
The story has been corrected on April 5, 2012 for factual error
