Puducherry: CM V Narayanasamy presents tax free budget for 2017-2018

Puducherry, May 25: Chief Minister V Narayanasamy on Thursday presented a Rs.6,945 crore tax-free budget for Puducherry for the fiscal 2017-2018 amidst a boycott by the opposition AINRC and AIADMK Legislators.

Presenting the budget in the in the territorial Assembly, he said that 'the total budget outlay projected is Rs.6,945 crore comprising Rs. 4,445 crore for non-plan head and Rs. 2,500 crore under plan. The contribution from Puducherry government's own resources is estimated at Rs.4,022 crore and the Central assistance of Rs.1,411 crore.'

He said that 'the anticipated grants from the Centre under the centrally-sponsored schemes including the Central Road Fund had been estimated at Rs.361 crore and the balance of Rs.1,151 crore would be met through open market borrowing and also from other financial institutions.'

He said that 'out of the total budget outlay around 60 per cent would be allocated towards committed expenditure comprising Rs.1,650.40 crore for payment of salaries, Rs. 663.27 crore for pension, Rs.1,112.88 crore for debt services payment of interest and repayment of loan and Rs. 1,012.19 crore for purchase of electricity.

Narayanasamy also said that 'during the previous year 2016-2017, the government had incurred an expenditure to the tune of Rs.6,144 crore as against the revised estimate of Rs 6,550 crore which is the highest ever spending in the history of the Union Territory of Puducherry.'

The Chief Minister said,



'despite financial hardship my government has implemented the recommendations of the Seventh Pay Commission for payment of salaries and pension to government servants.'

As soon as the Chief Minister started presenting the budget former Chief Minister and Leader of the Opposition N Rangasamy led his party legislators' walkout.

The Legislature wing leader of the AIADMK Amma A Anbalagan also charged the government with failing the people on several counts and led the party's boycott of the budget proceedings.Budget Highlights

Budget highlights

Funds for Central roads and Centrally-sponsored schemes constitute 5.2 per cent of the whole state Budget.

Due to demonetisation, 2016-17 was not a financially favourable year for revenue mobilisation, says CM, adding that the Centre should waive off legacy loans.

Government to launch comprehensive water supply and sewerage projects at a cost of Rs 1,480 crore by availing loan from Agency French Development.

Submitted Rs 1,169 crore proposal to Centre to strengthen solar power generation by availing loan from Japan International Cooperation Agency.

Puducherry Port to handle commercial cargo from June this year after it signed an MoU with Chennai Port Trust.

In health sector, government hospitals will start intra-uterine insemination at infertility services.

The government will extend Neet coaching classes for Class 11th students too, says CM.