Union Budget 2018: Will accelerate growth, says TN CM Edappadi K Palaniswami

CHENNAI: Chief Minister Edappadi K. Palaniswami has commended the Union Budget saying Jaitley’s first budget post-GST is fairly balanced, growth-oriented that focuses on development of agriculture, rural development and health sector.

Pointing out that it is the last full budget for the current government at the Centre, Mr Palaniswami said, “We welcome the decision to give a big push to agricultural and allied sector. Enhancement of the minimum support price for all crops to cover at least 1.5 times that of the production cost will benefit the farmers in a big way.”

However implementing this is a big challenge. The constitution of the Fisheries & Aquaculture Infrastructure Development Fund and Animal Husbandry Infrastructure Development Fund with a total corpus of Rs 10,000 crore will provide a significant  impetus to the agriculture and allied sector.

“I hope that these funds will be operationalised immediately, along with the Micro Irrigation Fund and Dairy development Fund, which were announced in last budget,” the CM said and appreciated the launching of ‘Operation Green’ with initial allocation of '500 crore and Bamboo Development Fund with allocation of Rs 1,290 crore.

While welcoming the proposed liberalisation of exports of agricultural commodities, he expressed the hope that Tamil Nadu will benefit from the Mega Food Parks scheme that the Union Finance Minister alluded to in his speech.

“Doubling the allocation to the agro processing industry will bring more stability and enhance farmers’ income,” he said and added overall there are many initiatives in the agricultural sector, which will benefit the farming community.  
 He however noted that the Budget has left out Chennai, which is expanding faster and needs strengthening of its suburban train system.

The expectations of the MSME are far greater and they need to be supported more. On the standard deduction of '40,000 for salaried, he expressed “we feel that this falls short of the expectations of the public.” 

Noting that the budget should give a boost to increase investment, generate more jobs, he exuded hope that this budget will bring fiscal stability to the country and accelerate economic growth.