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Highlights of Tamil Nadu Budget

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Finance Minister O. Panneerselvam is presenting the first State Budget after the AIADMK government took over for the second consecutive time.

Highlights

It has been decided to form Lokayuktha

For Forest department, the govt. allotted Rs. 652.78 crores

Farming for fisheries will be increased in Thoothukudi, Kanyakumari, Thiruvallur districts

1000 scooters for physically handicapped who have lost both their legs

Compensation during fishing ban will be increased

Gold scheme for ‘thaali’ for women

Revenue Deficit has been revised to Rs. 15,854.47 crores for FY2016-17.

Fiscal Deficit is estimated as Rs.40,533.84 crores

Total Revenue Receipts is estimated as Rs. 1,48,175.09 crores. State’s own tax revenue is Rs. 86,537.70 crores.

TASMAC revenue is pegged at Rs. 6636.38 crores.

Rs.2,000 crores allocatted for the ‘Tamil Nadu Infrastructure Development Fund’.

Rs. 100 crores allocatted for the ‘Project Preparation Fund.’

In a landmark initiative, for the first time in the country, the State has promoted the Tamil Nadu Infrastructure Fund as an Alternative Investment Fund Category I through TNIFMC. It has been registered by the SEBI.

Outstanding short-term crop loans, medium term (agriculture) and long term (farm sector) loans issued to small and marginal farmers as on March 31, 2016 will be waived off.

The tentative principal and interest outstanding has been assessed at Rs. 5,780.92 crores. It will be compensated with interest by the government to Co-operatives in a span of five years.

A new scheme for dry land farming will be launched focusing on improving the production of millets, pulses and oil seeds.

A special sel-sufficiency Pulse Production Programme will be launched this year for promoting cultivation of green gram, black gram and red gram.

Tamil Nadu’s forest cover is highest among States.

Teak and other plantations will be raised in the canal banks, padugai lands and other lands outside forest area. Rs. 52.64 crore alloted for this purpose for a period of five years.

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