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Pondicherry CM presents tax-free budget for 2017-2018

Pondicherry Chief Minister V Narayanasamy today presented a Rs.6,945 crore tax-free budget for Puducherry for the fiscal 2017-2018 amidst a boycott by the opposition AINRC and AIADMK Legislators.

Presenting the budget in the in the territorial Assembly, he said that the total budget outlay projected is Rs.6,945 crore comprising Rs. 4,445 crore for non-plan head and Rs. 2,500 crore under plan.

The contribution from Puducherry government’s own resources “is estimated at Rs.4,022 crore and the Central assistance of Rs.1,411 crore.”

He said that the anticipated grants from the Centre under the centrally-sponsored schemes (CSS) including the Central Road Fund (CRF) had been estimated at Rs.361 crore and the balance of Rs.1,151 crore would be met through open market borrowing and also from other financial institutions.

He said out of the total budget outlay around 60 per cent would be allocated towards committed expenditure comprising Rs.1,650.40 crore for payment of salaries, Rs.

663.27 crore for pension, Rs.1,112.88 crore for debt services (payment of interest and repayment of loan) and Rs. 1,012.19 crore for purchase of electricity.

Narayanasamy also said that during the previous year (2016-2017), the government had incurred an expenditure to the tune of Rs.6,144 crore as against the revised estimate of Rs 6,550 crore “which is the highest ever spending in the history of the Union Territory of Puducherry.”

The Chief Minister said, “despite financial hardship my government has implemented the recommendations of the Seventh Pay Commission for payment of salaries and pension to government servants.”

Narayanasamy said that “despite my government’s best efforts the Centre is yet to release the additional grant towards non-plan gap grant and for implementation of the Central Pay Commission recommendation.”

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