Chennai: The much anticipated last full year budget of the present AIADMK government was tabled by Deputy Chief Minister O Panneerselvam in the State Assembly today. Presenting the budget for the tenth time, Panneerselvam, who also holds the finance portfolio, said Tamilnadu achieved growth of 8.17 per cent in 2018-2019.
ON GROWTH PATH
”In 2019-20, growth is projected to be 7.27 per cent, which is significantly higher than the projected all India growth rate of five per cent. We expect an ever stronger growth performance in 2020-21,” he said.Ā He further said that the State government’s revenue was Rs 2,19,375 crore and the expenditure was 2,41,601 crore with a deficit of Rs 22,226 crore.
RIGHT LESSONS
”This government accords the highest priority to providing quality education to every child and hence the highest budgetary allocation of Rs 34,181.73 crore has been made for the school education department,” Panneerselvam announced.
He also said, ”To enhance the safety of women, CCTV cameras are to be fitted in all buses at an estimated cost of Rs 75.02 crore allotted under the Nirbhaya fund”.
CHENNAI FOCUS
As far as the city is concerned, Panneerselvam said the government will launch the Chennai City partnership programme as a unique model of development co-operation with the World Bank to ensure the continued sustainable growth of metropolitan Chennai.Ā ”This projected comprises three major pillars – urban mobility, water resilience and urban governance and finance,” he said.
He also said that a sum of Rs 3,100 crore has been allocated for the Chennai Metro Rail Project as share capital assistance, subordinate debt and pass through loan assistance.
POWER PLAY
He added that 5,692 existing distribution transformers in Chennai and its suburbs are being replaced by 11 kv Ring Main Units at a cost of about Rs 785 crore.
”The Ponneri Industrial Node of the Chennai-Bengaluru Industrial Corridor (CBIC) will be developed on an area of 21.966 acres in Thriuvallur district. To promote innovation at the grass root level SIPCOT will establish Industrial Innnovation Centres at Sriperumbudur and Hosur, with support under the Tamilnadu Innovation Initiatives, at a total cost of RS 53.44 crore,” Panneerselvam said.
INFRA INPUT
He added that Rs 263 crore has been allocated for Phase II and Phase III of Chennai Outer Ring Road.Ā Panneerselvam said that the process of identifying land for construction of Master Plan Complexes in the five newly formed districts has commenced and these complexes would be constructed at a total cost of Rs 550 crore.
Highlights
* Rs 300 crore allocated for Kudimaramathu works
* Rs 6,991 crore allocated for irrigation projects
* 20,000 new houses to be built under PM and CM housing schemes.
* Rejuvenation of old Amma canteens and opening of new ones at a cost of Rs 100 crore.
* Stamp duty tax reduced to 0.25 per cent from 1 per cent.
* Compensation for deaths due to accidents and other causes increased to Rs 4 lakh