Focus on water management, housing, skill development, poverty reduction and a clean Tamil Nadu
The revised budget for 2016-17 presented by Finance
Minister O. Panneerselvam in the Assembly on Thursday did not impose any
fresh taxes.
However, it lacked populist
announcements, disappointing those who were expecting the government to
unveil plans for implementing some of its electoral promises, such as
scooters at subsidised rates for women and waiver of education loans.
The
budget, nonetheless, gave a major thrust to agriculture and allocation
for the crop loan waiver scheme for farmers. The revenue and fiscal
deficit numbers were revised upwards on lower tax collections and
increased spending.
With a view to addressing issues
facing the State, Mr. Panneerselvam announced that the government had
formulated five missions: water resource management and revival of
Kudimaramath (maintenance of water systems by people); housing to
achieve hut-free villages and slum-free cities; poverty reduction and
economic empowerment of the poor; a clean Tamil Nadu; and a mission for
skill development.
The
State set an ambitious foodgrain production target of 147 lakh tonnes
during 2016-17 and will also launch a new scheme for dry land farming
for increasing production and productivity of millets, pulses and
oilseeds.
Cooperatives will extend fresh crop loans
of Rs. 6,000 crore. The government estimated the principal and interest
to be waived at Rs. 5, 780.92 crore, which will be compensated with
interest in five years to cooperatives. This will benefit 8,35,360 small
farmers and 8,58,785 marginal farmers. The government allocated Rs.
1,680.73 crore for the co-operative loan waiver scheme.
Mr.
Panneerselvam added the government would give 12,000 milch cows to poor
women and 4,00,000 goats/sheep to one lakh poor families this fiscal.
As many as 5.35 lakh students would be provided with laptops.
Subsidies
and transfers accounted for Rs. 68, 211.05 crore in the revised budget
estimate for 2016-17. Out of it, food accounted for Rs. 5,100 crore and
electricity, Rs. 9,000 crore.
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