Tamil Nadu Budget 2022: All you need to know

Tamil Nadu Budget 2022: All you need to know

The Tamil Nadu Dravida Munnetra Kazhagam (DMK) administration presented the Budget for 2022-23 on 18 March 2022. With an emphasis on the urban sector, social packages, education, and flood control measures.

While presenting the Tamil Nadu Budget 2022, Finance Minister Palanivel Thiagarajan stated that they have reduced the revenue deficit by over ₹7,000 crores for the first time since 2014.

“As a result of this government’s prudent fiscal management, the overall revenue deficit has decreased to ₹55,272 crores in revised estimates as opposed to the budgeted amount of ₹58,693 crores,” said Finance Minister Palanivel Thiaga Rajan while presenting the DMK government’s first full Budget (2022-23).

“We are on track to reduce the fiscal deficit from 4.61% to 3.80%,” PTR stated.

Total revenue spending in the revised estimates (RE) 2021-22 at ₹2,59,151 crores, compared to ₹2,61,189 crores in the budget estimates (BE).

In the preceding fiscal year (FY21), the revenue shortfall was ₹61,320 crores. It will be ₹52,781 crores in 2022-23. Read also Union Budget India 2022-2023

Infrastructure Developments

One of the most well-publicised financial statements from the FM’s address was a plan to raise the FSI, or Floor Space Index, along the Chennai Metro Rail route to spur the development of nearby real estate developments. This decision may help to increase the development of the construction sector.

The budget allocated ₹50,000 crores for the establishment of industrial parks in Vellore and Coimbatore. Further, ₹32,667 crores to the industries department for the development of logistics and supply chain systems.

The FM stated that over ₹3,000 crores would be used to provide piped drinking water under the Jal Jeevan Scheme.

In addition, ₹2,800 crores funding for the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) plan for the fiscal year 2022-23.

In collaboration with Kew Gardens in London, the government would build a botanical garden near Chennai for ₹300 crores.

Administration buildings for New Corporations

Tamil Nadu Budget 2022 has allocated a special fund of ₹60 crores to each of the six newly constituted corporations of Tambaram, Kanchipuram, Kumbakonam, Karur, Cuddalore, and Sivakasi to build basic infrastructure. In addition, each of the 28 newly formed municipalities would receive ₹2 crores.

Knowledge City

According to the FM, Tamil Nadu will also host a ‘Knowledge City,’ which would function as a world-class education centre. While a lesser amount of ₹50 crores has been put aside as an ’emerging sector seed fund,’ to assist start-ups in growing.

Flood and Disaster Management Initiatives

Thiagarajan has announced a series of initiatives, including the funding of ₹500 crores for the ‘Singara Chennai 2.0’ flood-mitigation project.

To get timely flood warnings, the government will set up an advanced early warning system that will include supercomputers, a weather balloon system, two weather radars, 100 automatic weather stations, 400 automatic rain gauges, and 11 automatic water level sensors. The government has allotted a budget of ₹10 crores for this purpose.

Ancient Temple Restoration

The government will make efforts to rehabilitate and preserve more than 1000-year-old temples without damaging their integrity. The improvements would be completed for ₹100 crores. The budget has allocated a total of ₹340 crores for the Hindu Religious and Charitable Endowments Department.

Eco-friendly and Electric Government Buses

The government plans to buy 2,000 new BS-6 diesel buses and 500 electric buses to help with state transportation.

Community Welfare

The budget has granted a total of ₹1,230 crores to the Welfare Department for Backward Classes, Most Backward Classes, and Minorities. Furthermore, the government has allocated a total of ₹450 crores to the maintenance allowance for seriously disabled people. The government has given ₹838 crores for the Department for the Welfare of Differently Abled Persons.

In addition, the state budget included ₹3,200 crores for the Prime Minister’s Model Housing Board plan. And also ₹500 crores for the construction of 1,000 new dwellings for Irular tribal members.

Educational Improvements

The FM has allocated ₹36,895 crores to the School Education Department. While for the Higher Education Department, the government has allocated ₹5,668 crores. At an estimated cost of ₹15 crores, school kits, including textbooks and notebooks, would be supplied for kids studying in government schools from classes 1 to 10 in private unaided schools that teach only in the Tamil language.

Moovalur Ramamirtham Ammaiyar scheme

A higher education assurance plan for all female students in government schools from Grades 6 to 12. They would be paid ₹1,000 every month straight into their bank account. Till they have completed their undergraduate degree, diploma, and ITI courses without interruption. In addition to other scholarships, students will be eligible for this one.

Tamil Nadu Budget 2022 – Agriculture

MRK Panneerselvam, Minister of Agriculture and Farmers Welfare, announced the DMK government’s second Agriculture Budget on 19 March 2022. With an emphasis on integrated development while distributing cash for different initiatives.

MRK Paneerselvam says the government has allotted ₹33,008 crores to the Agriculture Department for the fiscal year 2022-23.

The minister stated that the government will take initiatives to target 126 lakh MT of foodgrain output in 2022-23.

The government has allotted a budget of ₹2,399 crores for the State contribution of premium subsidies for the crop insurance plan.

Free electricity for farming

The Tamil Nadu government has allotted ₹5,158 crores to give free energy to all farmers throughout the state.

Sustainable Cotton Cultivation Mission

The Union and State Governments combined allocated a budget of ₹15.32 crore for the state’s “Sustainable Cotton Cultivation Mission” in order to increase cotton yield in 2022-23. Special measures are being taken to increase soybean cultivation in Tanjore, Salem, Tiruvallur, Nellai, and Villupuram districts.

Kalaignarin All Village Integrated Agriculture Development Programme

This budget granted ₹300 crores for the ‘Kalaignarin All Village Integrated Agriculture Development Programme’. According to Mr Panneerselvam, the scheme’s major goal is to provide holistic development to all village panchayats.

Every year, the initiative will be executed in village panchayats identified through the Anaithu Grama Anna Marumalarchi Thittam. The Department of Rural Development and Panchayat Raj implements the initiative.

As these two initiatives are converging and performed concurrently, this project is being implemented across 1,997 village panchayats of Anaithu Grama Anna Marumalarchi Thittam during the first year, according to the Minister.

Dry Land Development Mission

The Chief Minister’s Dry Land Development Mission received ₹132 crores in the budget. The initiative would cover 7.5 lakh acres in 3,000 dryland clusters to assist dryland farmers in successfully cultivating dryland crops. This will boost the income and standard of living for 3 lakh dryland farmers. Further, subsidies will be offered for agricultural supplies and seeds.

Subsidy for SC/ST farmers

According to Paneerselvam, the Tamil Nadu government would also grant ₹5 crores as an additional 20% subsidy to SC/ST farmers. The Minister also stated that the government is taking initiatives to mitigate the detrimental effects of global warming on agriculture.

Loans for agriculture

The Minister stated that the National Bank for Agricultural and Rural Development (NABARD) has established a thorough strategy under its Potential Linked Credit Plan for the fiscal year 2022-2023 to give agricultural credit worth ₹1,83,425 crore.

During 2022-23, district-level objectives would be set, and loan distribution to farmers will be continually reviewed at the state and district levels by the Tamil Nadu government, he added.

Read also The Tamil Nadu Council of Ministers – Full Description

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