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Puducherry Budget: CM N Rangasamy presented tax free budget, there was a reduction in the price of petrol by this much

Chief Minister N Rangasamy said that the state government has allocated an additional Rs 25 crore in this financial year to deal with the corona virus epidemic.

Puducherry Chief Minister N Rangasamy. (Photo: PTI)

Puducherry Chief Minister N Rangasamy presented a tax free budget of Rs 9,924.41 crore today. The allocation of resources will be Rs 1,200.44 crore under Capital head and Rs 8,723.97 crore under Revenue head. He said that the tax on petrol in Puducherry and Karaikal regions would be reduced by 3 per cent immediately for the benefit of the public in view of the effect of hike in current petrol prices. Rangasamy said that this will reduce the price of petrol by Rs 2.43 per liter.

Chief Minister N Rangasamy said that the government will waive the education loan taken by the students of SC/ST through Padco. From this financial year, the government will start an educational assistance scheme for SC/ST students to provide free education from class I to college level. The government will also waive off crop loans taken by farmers through cooperative banks.

Rs 1,729.77 crore will be received as central assistance

The sector will have to mobilize Rs 6,190 of the budget from its own resources, while it will receive Rs 1,729.77 crore as central assistance. The allocation under centrally sponsored schemes will be Rs 320.23 crore. The sector will have to meet the balance allocation of Rs 1,684.41 crore from open market borrowings and loans from central financial institutions. A major part of the financial resources will be used to meet the committed expenditure.

How is the budget decided?

The government allocated Rs 2,140 crore (21.56 per cent) for salary, Rs 1,050 crore (10.58 per cent) for pension and Rs 1,715 crore (17.28 per cent) for payment of loans and interest and Rs 1,591 crore (16.03 per cent) for power purchase. Will do Other major expenditures include old age pension and allied welfare measures of Rs 1,290 crore (13 per cent) and grants-in-aid of Rs 1,243 crore (12.52) to public sector undertakings, local bodies, cooperative institutions and higher education institutions run by the society.

Average growth rate of GSDP stood at 10 percent

The total outstanding debt of the Union Territory of Puducherry as on March 31 this year stood at Rs 9,334.78 crore, which is 22.17 per cent of the GSDP (2020-21) within the FRBM norms. Rangasamy said the average growth rate of GSDP of the Union Territory was around 10 per cent against the average national growth of 7 per cent to 8 per cent.

25 crores allocated to deal with Corona

Appreciating the sacrifice of healthcare and frontline workers in dealing with Corona, he said that the government has allocated an additional Rs 25 crore in this financial year to deal with the COVID-19 pandemic. He said the government would organize an industrial investors meet on September 23 and 24 to attract more investments in Puducherry.

‘Budget made keeping in mind things like poverty-health, education’

Chief Minister N Rangasamy said that our government is a government that listens to the voice of the people and responds actively. In this budget, sincere efforts have been made to give priority to poverty reduction, health, education, housing for the poor, water resource management in irrigation, socio-economic development of SC/ST, fishermen, women and children irrespective of revenue crunch. has done.

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