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TN; Budget allocates over Rs 4,100 Cr for waiver of farm loans, jewellery loans and loans of SHGs

Tamil Nadu Finance Minister Palanivel Thiagarajan presents Budget for 2022-23

Tamil Nadu Finance Minister PTR Palanivel Thiagarajan presented the state Budget to the Assembly today, saying the revenue deficit will be reduced by 7000-crore rupees from the estimated figures next year.

He expressed confidence that the fiscal deficit also will see a reduction from 4.61 percent last year to 3.8 percent, despite the challenges like Covid-19 pandemic. He, however, cautioned that the ongoing Ukraine crisis may cause an impact on the economy by affecting demand shocks and supply disruptions.

The state revenue expenditure is estimated at more than two lakh 84-thousand crore rupees next financial year, whereas the capital expenditure is pegged at about 43-thousand crore rupees. Referring to law and order issues that arise due to fake news in social media, he said Special Social Media Monitoring Cells would be set up. 18-thousand classrooms for schools are set to be built.

Book fairs in all districts and modernizing libraries and skill development schemes are some of the other announcements that were made in the budget. Over 4100-crore rupees have been allocated for the waiver of farm loans, jewelry loans and the loans of Self Help Groups. The food subsidy for next year is pegged at 7500-crore rupees.

To take care of the abandoned and injured pet and stray animals, a new scheme has been announced with the provision of 20-crore rupees which will be implemented through NGOs. A green climate change fund has been instituted.

All the girl students who studied in government schools and pursue higher education will be given a thousand rupees per month till they complete the course. The outstanding debt for the state is put at about 6-lakh, 53-thousand and 350 crore rupees. The principal opposition AIADMK boycotted today’s budget presentation.

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