TN budget has many announcements; but opposition is unhappy

TN budget has many announcements; but opposition is unhappy

Tamil Nadu Deputy Chief Minister O Panneerselvam, who also holds the finance portfolio, today presented the state budget for the year 2019-20.

One of the major announcement was the launch of a comprehensive accident cum life insurance scheme, covering all Below Poverty Line (BPL) families.

Palaniswami said the scheme will substantially increase the compensation to Rs 2 lakh and Rs 4 lakh for natural death and death due to accident respectively and Rs 1 lakh for permanent disability.

He said a sum of Rs 250 crore has been provided for payment of premium under this scheme. The Deputy CM said cloud burst and natural fire will also be included under localised calamities in addition to hail storm, landslide, inundation, etc. An allocation of Rs 621.59 crore has been provided in the budget for this.

For the benefit of the fishermen, Panneerselvam said, this government will distribute 240 units of Navic, 160 units of Isat-2 satellite phones and 160 units of Navtex instruments to 80 clusters of deep sea fishing boats.

Panneerselvam said urbanisation and development have put pressure on reserve forests in and around Chennai with problems like encroachments and dumping of garbage. Rs 25 crore will be alloted for the conservation of the reserve forest areas in the city. He said this fund will be utilised to construct compound walls and live wires around the forest area in Chennai city .

Pointing out that Tamil Nadu was one of the best performing states in implementing the GST and has achieved good growth in GST revenues, he said, however, the State was yet to receive its due share of IGST to the tune of Rs 5,454 crore as well as the assured GST compensation of Rs 455.16 crores for the year 2017-18.

The government would implement a Rs 2,000 crore Comprehensive Integrated Parking Management Project for Chennai city by creating underground parking parking facilities, multilevel parking facilities
and on-lane smart parking under the PPP mode to accommodate two lakhs each of four-wheelers two-wheelers, with necessary funding from the Tamil Nadu Infrastructure Finance Management Company (TNIFMC).