Puducherry CM Narayanasamy presents Rs 6,945 crore tax-free budget

Puducherry: Puducherry Chief Minister V. Narayanasamy on Thursday presented a tax-free Rs 6,945 crore budget for the fiscal 2017-18 in the state Assembly.

Presenting the budget, Narayanasamy said, "The budget size of the fiscal 2017-2018 has been fixed at Rs 6,665 crore of which Rs 4,445 crore is for the non-plan head."

The contribution from the Union Territory's own resources is estimated at Rs 4,022 crore, and the assistance form the Central government is Rs 1,411 crore,

The anticipated grants from CSS (Centrally Sponsored Scheme) including CRF (Central Road Fund) is estimated at Rs 361 crore and the balance Rs 151 crore would be met from borrowing from open market and other financial institutions, he added

Amidst protest by opposition parties All India NR Congress (AINRC) and AIADMK (Amma), the Chief Minister presented the budget that focused on agriculture, and infrastructure development. The government would develop the irrigation infrastructure under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) through the PWD at a cost of Rs 972.92 crore in Puducherry, Rs 1,195.57 crore in Karaikal, Rs 85.66 crore in Yanam and Rs 23.16 crore in Mahe. The government would provide free electricity to the motor pump sets used by farmers and also decided to provide insurance cover for both Samba and Navarai crops covering 12,500 hectares.

Sixty per cent of the budget is towards committed expenses like salaries, pension, debt service, interest and loan repayments and power purchase, said the Chief Minister.

Due to demonetisation 2016-17 was not a financially favourable year for revenue mobilisation, said the Chief Minister and he requested the  Centre to waive off legacy loans.

Eighty percent of existing dealers enrolled for migration to Goods and Services Tax and there will be budgetary provisions of incentives for commercial tax officers for collecting more tax than the target,  said the Chief Minister.

As soon as the Chief Minister started to present the budget the members of AINRC and AIADMK (Amma) started a protest alleging that the government failed to implement the poll promises. Later the members of AINRC and AIADMK staged a walk out.