Puducherry Chief Minister V Narayanasamy, who also holds the Finance portfolio, today presented a Rs 7,530 crore budget, which imposes no fresh taxes, in the territorial Assembly, amidst protest and walk out by the opposition MLAs.
In his 75-minute long address, Narayanasamy said, "of Rs 7530 crores which is the projected outlay of the budget the Union Territory's own resources for the current fiscal is estimated at Rs 4570 crores while the Central assistance would be Rs 1476 crores."
The remaining Rs 1,050 crores would be met from "open market borrowings and loans from the Central financial institutions."
"The Puducherry government has been permitted to availof the loan through open market borrowings and from Central financial institutions like HUDCO and NABARD for funding plan schemes."