Deputy Chief Minister O Panneerselvam Thursday said despite a slew of new projects announced in the budget, allocations for ongoing schemes have not been cut and asserted that steps were afoot to lower revenue deficit.
Listing several new schemes like 2,000 solar power motors for farmers, Panneerselvam, who holds the finance portfolio, told the state assembly that the budget pegged the revenue deficit at Rs 14,314 crore, down from Rs 19,319 crore as per the revised budget estimates of 2018-19.
In the 2019-20 budget presented on February 8, Pannerselvam had announced 36 new schemes worth Rs 20,000 crore.
Also, the budget was prepared keeping fiscal deficit within the three per cent threshold of Gross State Domestic Product.
"We have carefully projected that the State's Own Tax Revenue will only be 13.25 per cent for 2019-20," he said winding up general discussions on the budget.
The government was leaning more on SOTR growth to cut revenue and fiscal deficits and have brought down borrowings.
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"We have projected a net borrowing of only Rs 43,000 crore against the net borrowing ceiling of Rs 51,800 crore for 2019-20," he said.
"Amma's government is making appropriate efforts to bring down the revenue deficit in a phased manner," he said.
Taking on DMK chief M K Stalin for dubbing the budget as "useless," (outside the House), he said the Leader of Opposition had viewed the annual financial statement with "hate," and that was why he had reacted in such a fashion.
"This is not a useless budget, this is one aimed at lending a helping hand for the people," he said.
On DMK member Palanivelrajan's remark that benefits should not go to undeserving people, he said several welfare initiatives including the Universal Public Distribution System were not target specific only to avert exclusion errors.
In his reply to the budget discussion, Panneerselvam also took potshots at main opposition DMK, saying people again and again elected Amma's (late Jayalalithaa) government as any other dispensation will cause anguish.
The AIADMK government, which wrested power in 2011 from the DMK, was voted back to office in 2016.
He asserted that the AIADMK government would bag victories as it had done only good for the people.
Citing a list of schemes for the welfare of all sections including minorities and the gold for marriage scheme, he said his party-led goverment was like a beacon light for other State governments.
The Assam government has come up with a similar (gold) assistance plan, he said.
"We are going to face the Parliamentary election with pride that Amma's government had always been in the first place in service of the people," he said.
At a time when his party has not finalised its allies, he said, "let any number of parties come together, we will face them with people's sakthi and win and offer the victory at the altar of Amma."
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