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State News

Feb 08, 2019

Tamil Nadu: Dy CM presents Budget for next financial year

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In Tamil Nadu, state budget for the next financial year has been presnted today by Deputy chief minister O Panneerselvam in the Assembly. Economic growth of the state is projected to be at 8.16 percent as per preliminary estimates for the current fiscal. Total revenue for 2019-20 has been pegged at 1,97,721 crore rupees. 

The budget document says the revenue deficit would be 14,315 crore rupees and fiscal deficit 44,176 crore rupees. The state's outstanding debt is estimated to be nearly 3.98 lakh crore rupees. 

Ten thousand crore rupees farm credit is the target fixed for the next fiscal. Art and science college will be established at Rameswaram in the name of Dr APJ Abdul Kalam. One lakh concrete houses are to be constructed in Cyclone Gaja affected villages to replace damaged huts, at a cost of 1700 crore rupees. 

The Minister expressed confidence, the Center would also share the expenditure for the scheme. In addition, 20-thousand solar powered green houses would also be built.

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