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Over 50% of Budget outlay will be used for salary, pension and debt repayment

Thrust will be on promoting tourism as a means to augment revenue generation : CM

August 22, 2022 08:25 pm | Updated 10:55 pm IST - PUDUCHERRY

Chief Minister N. Rangasamy also holding the Finance portfolio, presenting the budget for 2022-23 in the Legislative Assembly in Puducherry on Monday.

Chief Minister N. Rangasamy also holding the Finance portfolio, presenting the budget for 2022-23 in the Legislative Assembly in Puducherry on Monday. | Photo Credit: S.S. KUMAR

Around 52% of the total budgeted amount of ₹10,696.61 crore for the current fiscal will go for salary, pension disbursement and re-payment of debts, the Chief Minister said in his Budget speech.

In the current year, the government has estimated ₹2,312 .77 crore (21.62 % of the total Budget) towards salary payment, ₹1,123.32 crore (10. 49 %) for pension and ₹2,311 crore (21. 61 %) for repayment of loan, including interest for the legacy loan.

The remaining committed expenditure included ₹ 1,440 crore (13. 46 %) for disbursement of old age pension and welfare schemes. The grant-in aid for higher educational institutions, public sector undertakings, local bodies and cooperative institutions would be around ₹1, 333.19 crore.

Of the total revenue receipts, the Union Territory’s own earnings would be ₹6,557.23 crore and Central Assistance ₹1,729 crore, with an additional ₹500 crore under Centrally Sponsored Schemes and ₹20 crore from the Central Road Fund.

The Centre has allowed the Union Territory to borrow ₹1,889.61 crore during the current fiscal which will add to the total outstanding debt of ₹9,859.20 crore. Though the Budget did not mention about measures to raise revenue, Chief Minister N. Rangasamy, in his speech, indicated the government’s intent to improve earnings.

He said the government has plans to utilise the idle properties and land belonging to Municipalities for revenue generation through Public Private Partnership mode. The thrust would also be on promoting tourism as a means to raise more revenue, he said.

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