Friday, March 19, 2010

Tamil Nadu budget 2010: Some reflections

Tamil Nadu budget 2010-11 was presented by Finance Minister, K. Anabazhagan, at the newly built assembly complex. This was the first assembly in this building which was inaugurated by Indian Prime Minister, Manmohan Singh, and Congress party president, Sonia Gandhi on March 13, 2010. This was Anbazhagan’s fourth budget and was an important one for the state as preparation for their next assembly poll will start from May 2011. After the budget session, the house will be adjourned for a week. During that time, the parties will go for campaign for the Pennagaram election. Here are some of the important features of the budget:

  • For 2010-11, the total revenue received by the government are estimated to be Rs.63,091.74 crore and revenue expenditure is estimated at Rs. 66,488.19 crore. Hence, deficit stands at Rs.3,396.45 crore
  • Mr. Anabazhagan said that implementation of the Sixth Pay Commission recommendations mainly created this deficit.
  • This would constitute 3.7% of the Gross State Domestic Product (GSDP).
  • Anbazhagan said that the state achieved all the targets set by the central government regarding revenue and fiscal deficit in the last four years. The fiscal deficit for the year 2010-11 is permissible as per the recommendations of the 13th Finance Commission.
  • The budget would allocate funds for “differently abled” people.
  • At the budget session, Anbazhagan said that government would introduce necessary improvement measures to handle the debt situation.
  • The opposition parties talked about price hikes of daily necessities during the budget session.
  • To enjoy the live coverage of budget 2010-11, visit:

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