TN Finance Minister Thangam Thenarassu presents state budget for fiscal year 2024-25: Proposes array of development initiatives
Feb 19, 2024
Tamil Nadu [India], February 19 : Tamil Nadu Finance Minister Thangam Thenarassu presented the state's budget for the fiscal year 2024-2025 in the TN Assembly on Monday.
The budget outlines a comprehensive plan encompassing various sectors, ranging from education and infrastructure to social welfare and cultural preservation.
Over the next three years, the government plans to translate an additional 600 important books into Tamil, aiming to enrich the cultural and literary landscape of the state.
A major focus of the budget is on housing, with a commitment to constructing one lakh concrete houses in the fiscal year 2024-2025. By 2030, the government aims to build a total of eight lakh houses, each costing Rs 3.5 lakh.
Financial aid amounting to 5 crores will be allocated to support language technical startups, fostering innovation and entrepreneurship in the linguistic domain.
The government plans to establish an open auditorium in Keezhadi, with an investment of Rs 17 crore to promote cultural events and showcase the ongoing archaeological excavations in the region.
Additionally, archaeological work will be conducted in eight other locations.
An allocation of Rs 500 crore has been earmarked for the restoration of 5,000 lakes and ponds, along with Rs 365 crore for the construction of 2,000 new overhead tanks to address water scarcity issues.
The budget includes provisions for the construction of a film city under a public-private partnership on the outskirts of Chennai, with an investment of Rs 500 crore aimed at boosting the state's film industry.
Plans for the restoration and beautification of the Adyar river at a cost of Rs 1,500 crores, as well as investments totaling Rs 1,100 crores for the development of Chennai and North Chennai, underscore the government's commitment to urban rejuvenation.
The government announced the implementation of the Thaayumanavar poverty eradication scheme, targeting five lakh poor families with targeted assistance to uplift them from poverty.
In a move aimed at empowering women, free bus rides will be extended to hilly areas, including The Nilgiris and Kodaikkanal, promoting accessibility and inclusivity.
Measures to promote education and uplift marginalised communities include the initiation of the Pududhumai Penn Scheme for students of government-aided colleges and the allocation of Rs 2 crores for providing translated Tamil works in renowned universities worldwide.
Additionally, the government will establish Thozhiyar Vidhuthi (transgender hostels) in Chennai, Madurai, and Coimbatore, with an investment of Rs 26 crore and bear higher education costs for transgender individuals, demonstrating a commitment to inclusivity and empowerment.
