TN budget 2020-21 highlights: State's economy was strong despite global slowdown, says OPS
Tamil Nadu achieved growth of 8.1 per cent in 2018-19, says Deputy Chief Minister O Paneerselvam in his state budget speech.
Tamil Nadu Deputy Chief Minister O Paneerselvam, (OPS) is presenting the state budget for 2020-21 on Friday. Last year, the budget was devoid of populist measures and emphasis was on infrastructure development while continuing allocations for ongoing welfare and development schemes. OPS said outstanding debt at the end of March 2020 will be around Rs 3,97,495.96 crore.
Here are the key highlights from the state budget:
- Tamil Nadu achieved growth of 8.1 per cent in 2018-19, says OPS.
- GST compensation: Centre is obliged to offset the state's losses for five years. It is the centre's responsibility to find ways to implement it, says Paneerselvam.
- A special project to ensure that all basic infrastructure facilities including all-weather houses, link roads, street lights, solar lights and drinking water facilities are provided in all tribal habitations in Tamil Nadu.
Dy CM OPS presents revenue deficit budget for 2020-21; outstanding debt expected to touch Rs.4.56 lakh crore by March 31, 2021; OPS says outstanding debt is 21.83 p.c of GSDP in 2020-21 which is within the norms of Tamil Nadu Fiscal Responsibility Act @xpresstn @NewIndianXpress
- A gender budget statement showing an outlay of Rs.78,796.12 crore in 2020-21 towards women has been prepared as part of the budget for 2020-21.
- Government has allocated a total amount of Rs 8876.57 Crores for the police department in the budget for this financial year.
- Chief Minister has sanctioned Rs 12.21 Crores for the establishment of a world-class new museum at Keezhadi
- Dy CM O Panneerselam announces Rs 31.93 crore allotment for Tamil Nadu Archeological Department for the year 2020-21.
- "A total amount of Rs 8876.57 Crores has been allocated for the police department, including Rs 431 Crores for the construction of buildings," said OPS.
- Rs 100 crore allocated for flood mitigation efforts in Chennai.
- Rs 25 crore allocated to restore Chitlapakkam lake in Chennai suburb.
- Deputy CM says Tamil Nadu's economy has managed to perform well despite global slowdown.
- Rs 100 crore allocated to Amma canteens, which offers subsidised food items.
