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Puducherry budget seeks to spare citizens taxes
July, 17th 2012

The total budget size for the current year has been fixed at Rs. 5,540 crore, which included Rs. 3,000 crore under plan head, Rs. 2,450 crore non-plan and Rs. 90 crore for meeting expenditure for schemes under Central assistance. Presenting a tax-free budget in the Legislative Assembly on Monday, Chief Minister N. Rangasamy said the State plan of Rs. 3,000 crore as approved by the Planning Commission consists of Union Territories own resources of Rs. 735.72 crore, borrowings amounting to Rs. 844.28 crore, Central Assistance to the tune of Rs. 620 crore, and administrative sanction to obtain Rs. 800 crore from World Bank for post-Thane rehabilitation works.

Reading out his budget speech, amid walk out by members belonging to All India Anna Dravida Munnetra Kazhagam, the Chief Minister said the non-plan expenditure for the current year has been put at Rs. 2,450 crore, of which Rs. 585 crore would be the non-plan Central Assistance including Rs. 72 crore as loan component. Besides, plan and non-plan expenditure the expenditure for the current year included Rs. 90 crore under Centrally Sponsored Schemes.

Out of the plan size of Rs. 3,000 crore, Rs. 100 each has been earmarked for the Government Medical College at Kadirgamam and Thirunallar Temple Town project. The Thirunallar Temple Town project would be a hassle free scheme because of the outright grant without any loan component, the Chief Minister said

Giving an outline of his administrations plan for economic growth, the Chief Minister said a vision document for the 12 Five Year Plan with the aim to increase productivity of the identified sectors with special emphasis to agriculture, fisheries and measures to raise internal resources to meet infrastructure needs of the Union Territory has been prepared.

As Puducherrys fiscal deficits need to be brought down as per Centres advice, the territorial administration has proposed to reduce the loan component under Plan in a phased manner, Mr. Rangasamy said.

AIADMK WALK OUT

As soon as the Chief Minister rose to present his second budget, AIADMK members were on their feet shouting slogans against the ruling N R Congress government for its failure to implement schemes announced in the last budget. Led by leader of the party in the Legislative Assembly, A. Anbalagan then trooped into the well of the House and squatted on the floor.

Though the Speaker appealed to the members to restore decorum, the AIADMK legislators went ahead with their protest for a few minutes shouting slogans and they also tore last years budget speech. Later they staged a walk-out.

 
 
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