Tamil Nadu Presents Rs 49,278.73 crore Deficit Budget

Chennai: The Tamil Nadu government on Monday presented a Rs 49,278.73 crore deficit budget for the year 2024-25. State finance minister Thangam Thennarasu said the state’s growth was higher than that of the national GDP, which was a positive sign, and that the growth advantage was expected to continue in the next year. Addressing the state Assembly, he said the proposals had been prepared on the basis of the seven objectives of the DMK government namely social justice, welfare of the marginalised, transforming young Tamils as global achievers, knowledge based economy, equality focused on welfare of women, sustainable green future and Tamil language and culture.

Comparing the objectives to the colours of the rainbow, Thennasaru made a slew of announcements including ‘Thayumanavar Scheme’ to launch a final assault on poverty in the next two years by rescuing around five lakh poorest families from the clutches of poverty and the ‘Tamil sons scheme’ under which boys who studied in government schools from Class 6 to 12 would get an assistance of Rs 1,000 a month if they enrolled for higher education.

Stressing on the importance of education, he said projects at a cost of Rs 2,497 crore had been undertaken and new classrooms would be built at a cost of Rs 1,000. Besides, Rs 15,000 smart classrooms would be established at a cost ofRs 300 crore and `100 crore had been allocated for the implementation of the second phase of the ‘Illam Thedi Kalvi’ scheme, which was launched to bring back the children who dropped out during the Covid-19 pandemic.

A grand library and science centre would be set up in Coimbatore and the government would take proactive stops to ensure that education loans to the tune of Rs 2,500 crore were disbursed by various banks to over one lakh college students in the coming year, the Minister said. To help students clear recruitment entrance examinations, 1,000 candidates would be provided quality training every year with six month of boarding and lodging facilities in Chennai, Coimbatore and Madurai regions under a scheme for which Rs 6 crore has been allocated.

Among the proposals



to improve the transport sector was the allocation of Rs 12,000 crore for the Chennai Metro Rail Phase-II and the announcement made through the budget was that the first elevated stretch of Metro Rail from Poonamallee to Kodambakkam would be commissioned in December, 2025. Project reports for Metro Rail along Avinashi and Sathyamangalam Road in Coimbatore at a cost of Rs 10,740 crore and one in Madurai connecting Thirumangalam and Othakkadai at a cost of Rs 11,368 crore had been sent to the Union government for approval on equity sharing basis and another report for extending the route from Chennai Airport to Kilambakkam bus terminus at a cost of Rs 4,625 crore would soon to send, he said. The government would implement a new Cancer Management Mission and additional equipment for advanced cancer treatment at the Government Arignar Anna Memorial Cancer Hospital to upgrade the institution as a ‘Centre of Excellence’ and establish de-addiction centres in 25 government hospitals and provide counselling, treatment and rehabilitation services for those addicted to alcohol, drugs and other psychotropic substances at a cost of Rs 20 crore, he said. To make it a women-friendly budget, the government announced a scheme to incentivise additional women employment by offering a payroll subsidy of 10 per cent of the salary of women, specially-abled and transgender employees for two years to all industrial units providing direct employment to over 500 such individuals from the state. Also crèches for infant children would be established in all major SIPCOT industrial estates to support working women. 

Since Isro was developing a spaceport in Thoothukudi district for launching small satellite launch vehicles, TIDCO will establish a new Space Industrial and Propollent Park in 2,000 acres to promote space technology industries close to the Isro facility, he said. As Tamil Nadu had been recognised as a forerunner in creating conducive ecosystem for start-ups, a Global Start-up Summit would be organised in Chennai in January, 2025, bringing together leading start-ups and accomplished young entrepreneurs from across the world, he said.