Notwithstanding the ‘negativities’ of the global economic slowdown and its impact on the state, the Tamil Nadu Government today said that it planned for an “ambitious” outlay of Rs 1.85 lakh crore for the ensuing 12th Plan, almost doubling the size compared to the 11th Plan.

“For the ensuing 12th Plan, the State Government plans an ambitious outlay of Rs 1.85 lakh crore for plan schemes, more than double the size of the Eleventh Plan outlay of Rs 85,000 crore,” the Governor, Mr K. Rosaiah, said in his customary address to the Tamil Nadu Assembly.

This would put the state back on track, even as investments were slowing down in the wake of the economic slowdown and growth projections for 2011-12 had considerably scaled down at national level and the negative impact on Tamil Nadu would be “inescapable’’, he said.

“Notwithstanding these negativities, this Government is determined to ensure that spending by Government towards infrastructure and social security is not compromised in any manner,” he said.

Vision 2025 document

Further the State Government’s Vision 2025 document will be released shortly by the Chief Minister, Ms J. Jayalalithaa, he said, adding that a Bill will be introduced during the coming Budget session for the formation of the Tamil Nadu Infrastructure Development Board.

The board would serve as an institutional framework for conceptualisation, prioritisation and speedy implementation of critical infrastructure projects, he said.

A separate Infrastructure Development Fund would be constituted to give a fillip to the implementation of critical projects. “In this direction, this Government will also come out with a new public-private-partnership policy to synergise the resources of the Government and private sector in project implementation,” he said.

Industrial policy

The Government is in the process of formulating a comprehensive new industrial policy and sector-specific policies on the key and emerging sectors to promote industrial growth.

“We will strengthen the infrastructure along the potential industrial corridors to promote the speedy growth of industrial clusters and achieve a balanced industrial development,” he said.

Further, the Government will constitute an expert committee with representatives from industry to evaluate the potential and advise it on the way forward to attract more investments in hardware manufacturing, he added.

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