PUDUCHERRY: Chief Minister N Rangasamy, who holds the finance portfolio, will present the budget for the fiscal 2014-15 on the floor of the Territorial Assembly on September 11. The budget session of the Assembly commences on September 8 with the customary address of the Lieutenant Governor.
Already the vote on accounts (interim budget) for Rs 2,550 crore to meet the expenditure for the first six months of the financial year 2014-15 (from April 1 to September 30) has been passed by the Assembly on March 12.
Now a budgetary expenditure of Rs 6,100 crore that includes Rs 2,400 crore plan outlay and Rs 3,700 crore non-plan outlay has been proposed for the financial year by the state planning board that met under the Chairmanship of the Lieutenant Governor on July 21. In the current year the Central government has earmarked an assistance of Rs 814 crore under plan (Rs 626 crore as normal central assistance and Rs 188 crore for coastal disaster risk management ) as compared to previous year’s Rs 763.90 crore ( Rs 653.20 as normal central assistance, Rs 100 crore for additional central assistance for externally aided projects and Rs 10.60 crore for hydrology). This has been the basis for projecting a higher plan size.
The other resources to form the basis of the plan outlay includes Rs 360 crore from revenue receipts of the UT, Rs 450 crore from open market borrowings, Rs 220 crore from negotiated loans Rs 550 crore from centrally sponsored schemes and Rs 6 crore from small savings.
However, there is no clarity from the government on the issue of approval of the plan allocation by the planning commission.