Tamil Nadu Finance Minister Palanivel Thiaga Rajan , March 20, tabled the state budget for financial year 2023-24. While presenting the budget in the Assembly, the finance minister made a slew of money-related announcements and schemes including a monthly assistance scheme.
The Tamil Nadu government said reform initiatives have led to a reduction in revenue deficit from about Rs 62,000 crore to Rs 30,000 crore.
Tabling the Budget, Rajan said that owing to the unprecedented and difficult reforms undertaken, “we have reduced the annual revenue deficit of around Rs 62,000 crore which we inherited on assuming office (May 2021), to around Rs 30,000 crore in the Revised Estimates of the current year.”
Tamil Nadu Budget 2023-24
One of the key announcements of the state budget was Rs 1,000 assistance for women family heads, which was one of the electoral assurances made by the DMK ahead of the 2021 Assembly election. Other important announcements include free travel for women in state-run buses, breakfast scheme for government school students.
The scheme offering Rs 1,000 per month assistance for eligible women heads of families will be launched in September this year, coinciding with Dravidian stalwart and party founder, the late CN Annadurai’s birth anniversary on September 15. As much as Rs 7,000 crore have been earmarked for the plan.
The assistance is officially known as ‘Magalir Urimai Thogai’ in Tamil, meaning ‘Women’s Right to Assistance’. Women heads of eligible households would get the financial assistance.
Tamil Nadu Budget Highlights
The state finance minister also announced setting up of a state-of-the-art global sports city in Chennai and Rs 25 crore for factory skill schools and Metro rail projects for Coimbatore and Madurai.
The FM also announced renovation of the Jawaharlal Nehru Outdoor Stadium here at an estimated cost of Rs 25 Crore.
In the upcoming financial year, the state government would construct classrooms, laboratories and toilets at a cost of Rs 1,500 crore.
The government would extend the free bus pass scheme to 591 more elderly Tamil scholars.
The ‘Vada Chennai Valarchi Thittam’ scheme will be implemented at a cost of Rs 1,000 crore over the next three years to address the gaps in development and infrastructure deficit of North Chennai.
The government will also launch ‘Annal Ambedkar Business Champions Scheme’ to provide 35 per cent capital subsidy and offer a 6 per cent interest subsidy for loans to procure machinery and equipment to SC/ST entrepreneurs. Rs 100 crore have been allocated for this.
Tamil Nadu FM also announced an allocation of Rs 6,967 crore to the Higher Education Department.
Rs 500 will be utilised to train technical teachers.
For civil service aspirants in the state, the government will give them Rs 7,500 per month for 10 months to prepare for the preliminary examination.
Students who clear the preliminary examination will be given Rs 25,000. The government has set aside Rs 10 crore for Tamil Nadu Skills Development Corporation.
