The ₹219,339 crore Tamil Nadu Budget for 2017-18 has carried forward the State government’s theme of implementing socio-economic development programmes and infrastructure projects under five priority missions and 11 special focus areas.
While the funding support for the above has been increased significantly, three new programmes involving an outlay of ₹5,337 crore will be taken up in 2017-18 with loan assistance from foreign agencies.
The budgetary allocation for five priority missions — water resource management, poverty reduction, housing for the poor, skill building and clean Tamil Nadu campaign — has been increased by 34 per cent in 2017-18 at ₹12,764 crore from ₹9,453 crore in 2016-17. Improving basic infrastructure will be the priority in the 11 focus areas.
State Finance Secretary K Shanmugam pointed out that the government would roll out three new schemes relating to investment promotion, rural development and water management.
The Government will undertake the second phase of the Tamil Nadu Investment Promotion Programme with JICA (Japan International Cooperation Agency) assistance at an estimated cost of ₹1,295 crore in 2017-18. The project aims to make the State investor-friendly and strengthen infrastructure for industrial development.
Rural transformationThe World Bank-assisted Tamil Nadu Rural Transformation Project will be launched in 2017-18 to cover an additional 120 blocks at an outlay of ₹1,000 crore.
The second phase of Irrigated Agriculture Modernisation and Water-bodies Restoration and Management project with World Bank aid at an estimated cost of ₹3,042 crore will commence in 2017-18. For this, ₹814 crore has been allocated in the Budget for 2017-18.