Chennai: Presenting a deficit budget of Rs 37,540.45 crore for the year 2023-24, Tamil Nadu finance minister PRT Palanivel Thiagarajan on Monday announced that the much anticipated Rs 1000 per month to women family heads of eligible households will be launched by Chief Minister MK Stalin on September 15.
Claiming that this will be a 'game changer' in the socio-economic life of women in the state, he said Rs 7000 crore had been allotted in the budget for this. Stalin, during the election campaign in the just concluded Erode East assembly bypolls, had promised that the announcement will be made in the budget.
“We had promised in the Election Manifesto ... Women heads of families who have been affected by the steep increase in cooking gas price by the Union Government and the overall price rise will be greatly benefited by this scheme. The operational guidelines outlining the eligibility to avail the benefits under the scheme will be evolved and released soon,” Thiagarajan said.
Why September 15?
Because the DMK used to hold its 'Mupperum Vizha' (Festival of Three) for three days from September 15 to 17 to mark the birth anniversaries of DMK founder and former Chief Minister Annadurai who is 'Anna' for his admirers, and Dravidian icon and rationalist leader 'Periyar' EV Ramasamy and the foundation day of the DMK. It was Anna, who made the DMK into a formidable mass organization and catapulted it into power by dethroning the Congress in 1967.
Another important takeaway in the budget is the Dalit outreach of the ruling DMK with the announcement of legislation for the SC/ST Sub Plan, a long pending demand. The finance minister said, “the Government will bring the new legislation to ensure adequate allocation of funds and effective implementation of the Scheduled Caste and Tribal Sub Plans. The draft bill will be introduced in the Assembly's next session after due consultations with the stakeholders. The Viduthalai Chiruthaigal Katchi (VCK), an ally of the DMK, had been pressing for this.
To promote entrepreneurship among the Dalits, the government will launch the 'Annal Ambedkar Business Champions' scheme this financial year, and Rs 100 crore has been earmarked for this. The minister said, the number of persons from the Dalit communities availing various entrepreneurship subsidies is very low and this new scheme offers a 35 percent capital subsidy besides a 6 percent interest subvention on loans to procure machinery. To uplift the underdogs among Dalits, the Puthirai Vannars (Dhobies of Dalits), a minuscule minority on the margins, Rs 10 crore had been allotted in the budget to revive the Welfare Board for the community.
In order to ensure basic amenities in Dalit habitations, a new scheme 'Iyothee Thass Pandithar Habitation Development Scheme' will be launched in both rural and urban areas. Aimed at bringing comprehensive socio-economic development, it will be implemented at a cost of Rs 1000 crore over a period of five years. Further, Rs 5 crore has been earmarked for the translation of Dr. BR Ambedkar's works into Tamil
With a total revenue receipt of 2,70,515.23 crore and a revenue expenditure of Rs 3,08,055.68, the deficit stands at Rs 37,540.45 crore. The minister hopes to bring it down to Rs 18,583.12 crore in the next financial year. While the state's own revenue is estimated at Rs 1,51,870.61 crore, Tamil Nadu's share of central taxes is Rs 41,664.86 crore and the Grant-in-Aid from the center is 27,444.64 crore.
The substantial reduction, Thiagarajan said, was due to the stoppage of GST compensation from June 2022 onwards, resulting in a shortfall of Rs 20,000 crore. A lion's share of the budget goes to salaries (Rs 77,240.32 crores) and pensions (Rs 36,973.02 crore). Even as the state's fiscal deficit remains at 3.25 percent of the GDSP, not exceeding the limit allowed by the Finance Commission, the minister said, in the coming years it would be kept at 3.0 percent. With a proposal to borrow Rs 1,43,197.93 crore this financial year, the outstanding debt would be Rs 7,26,028.83 crore as on March 31, 2024.
