PUDUCHERRY: The head of Minister of N Rangasamy, who holds a financial portfolio, on Thursday presents the tax-free budget of Rs 9,924.4-Crore for the financial year 2021-2022 for the Puducherry Union area.
The spotlight of the budget includes a 3% discount in VAT on gasoline, education and lightening of plant loans.
Resource allocation will be 1,200.4 crore rs under the head of the capital and RS 8,724 crore under the head of income.
This region must mobilize Rs 6,190 from the budget of its own resources when receiving Rs 1,729.8 Crore as a central aid.
The allocation in a centralized sponsored scheme will be Rs 320.2 Crore.
The region must fulfill the remaining allocation of Rs 1,684.4 Crore from open market loans and loans from central financial institutions.
“We are a government that listens to the voices of the people and responds proactively.
I have sincerely tried this budget to give priority for poverty reduction, health, education, housing for poor water resource management, social-economic development SC / ST , fishermen, women, and children despite income constraints, “Rangasamy said.
He shows that most financial resources will be used to meet committed expenditures.
The government will distribute Rs 2,140 Crore (21.6%) for salaries, Rs 1,050 Crore (10.6%) for retirement and 1,715 crore (17.3%) for loan and interest payments, and RS 1,591 Crore (16%) for power purchase.
Other major expenses include the retirement of the old era and allied welfare measures of 1,290 crore (13%) and grants for public sector businesses, local agencies, cooperative institutions, and the community of higher education institutions Rs 1,243 Crore (12.5%).
The budget promises SC / SC student education loans available through Padco and free education for SC / ST students from class I to universities this year.
Plant loans available by farmers at the Cooperative Bank will be abolished.
“VAT on gasoline in the Puducherry and Kauducherry area will soon be reduced by 3% considering the impact of the increase in gasoline prices.
This will reduce gasoline prices of Rs 2.43 per liter,” said Rangasamy.
The total UT debt on March 31 was Rs 9,334.78 Crore, which was 22.17% of GSDP (2020-21), both in the FRBM norm.
Rangasamy said the average growth rate of GSDP from the United States established around 10% as on national GDP growth an average of 7% to 8%.
He said the government had submitted a detailed project report to the center to establish a national planning and national architecture at RS 334.3 Crore.
The government has also proposed a 500 bed hospital in GoriMedu to treat infectious epidemic diseases.