The Planning Board, which met on Wednesday, has fixed the draft of the annual plan at ₹11,000 crore. The draft of the outlay was fixed at the board meeting, held under the Chairmanship of Lt Governor Tamilisai Soundararajan at the Chief Secretariat.
The All India N. R. Congress-led National Democratic Alliance government had presented a vote on account of ₹3,613 crore in March to meet the expenditure needs of the administration for the first five months of the current financial year. A full Budget has to be presented in the Assembly before the end of August to meet the expenditure requirements for the months after August during this fiscal..
The outlay for the last financial year was ₹9,924.41 crore. After presenting last year’s Budget, the Chief Minister had written a letter seeking an additional allocation of ₹2000 crore to meet the government’s committed expenditure and take up development and welfare schemes.
According to official sources, the government had projected ₹11,000 crore taking into account the buoyancy witnessed in recent months in the tax collection, especially in excise duty. The government was expecting a revenue deficit due to end of the tenure of GST compensation from the Centre. But, there had been an uptick in revenue over the last few months and the surge could offset a part of the revenue deficit, said a government source.
The draft of the annual plan would be forwarded to the Union Government for vetting and clearance by the Union Finance and Home Ministries. The board meeting was attended by Chief Minister N. Rangasamy, his ministerial colleagues, Chief Secretary Rajeev Verma and senior officials
