Tamil Nadu Budget 2023-24 Highlights
Tamil Nadu Budget significantly concentrates on investments in education, health, and infrastructure. The budget gave a special focus on the government’s commitment to enhancing the city’s infrastructure and quality of life, particularly in North Chennai.
- More than Rs 3,200 crore allocated for industries department during financial year 2023-24
- Metro Rail projects in Coimbatore for estimated cost of INR 9000 crores and in Madurai for INR 8500 crores
- Trillion Dollar Vision : Rs. 100 Crores allocated for 2023 world investor conference to make
- 1.44 lacs crores investment to create 2.14 lac jobs to develop backward districts
- Ethanol policy to be constituted to attract investments to the tune of Rs. 5,000 crores. This will provide benefits for sugarcane farmers
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Rs. 410 crore planned for New sipcot in Virudhunagar, Vellore, Kallakurichi, Coimbatore
- TN Tech City would be set up in Chennai, Coimbatore and Hosur to address the growing demand for infrastructure requirements and position Tamil Nadu in the global information technology map.
- INR 77,000 crore allotted for developing mega power project to generate 14,500 MW of power by 2030
- Textile Park in Virudhunagar for Rs. 1800 Crores
- Neo TIDEL parks in 7 districts. Erode, Chengalpattu and Tirunelveli
- 1500 crores for MSME for NEEDS, TReDS and others
- 2 more factories to manufacture non-leather footwear to come up at Ranipet and Kallakurichi
- Tax-GSDP ratio has increased to 6.11 per cent in the current year
- The Tamil Nadu Coastal Restoration Mission to reduce pollution in sea is allocated INR 2000 crore in the next 5 years
- Public-private-partnership model to be expanded to other parts of Tamil Nadu
- State-of-the-art Global Sports City in Chennai to promote the development of sports, and help the city emerge as a favoured destination for leading sports events
- Education Department has been allocated INR 40,299 crores
- INR 6967 crores allocated for higher education from INR 40,299 crores
- INR 2877 crores for transforming 71 government Industrial Training Institutes (ITIs) to Centres of Excellence
- Skill development centre would be setup at SIPCOT Hosur at a cost of Rs 80 crore
- “North Chennai Development Project” at a cost of Rs.1,000 crore over the next three years
- Rural roads covering more than 5,140 km would be laid at cost of Rs 2,000 crore in FY2024
- Substantial allocation of INR 19,465 crore for the Highways and Minor Ports Department
- INR14,000 crore allocated towards subsidy for TANGEDCO
- Annal Ambedkar Business Champions Scheme is allocated INR 100 crores which provides 35 percent capital subsidy and offer 6 percent interest subvention for loans to procure machineries and equipment for SC, ST entrepreneurs
- Special focus for growing and supporting entrepreneurship among women
