The Tamil Nadu Government today made a slew of announcements in 2014-15 budget for the energy sector.
Presenting the budget, Finance Minister O Panneerselvam said Tamil Nadu Transmission Corporation proposed setting up of a green energy corridor with an outlay of Rs 1,593 crore for evacuation of wind power with financial assistance from a German funding agency.
He also proposed allocating Rs 5,400 crore and Rs 2,000 crore to TANGEDCO (power generation and distribution company) as tariff subsidy and share capital assistance, respectively.
In the past three years, 2500 mw of new generation capacity has been added by the AIADMK Government, he said, adding that various efforts, including long-term and medium-term power purchase agreements were initiated by Chief Minister J Jayalalithaa.
Strengthening the tranmission and distribution system was another thrust area in the budget. As part of this, TANTRANSCO (power transmission company) was carrying out projects worth Rs 5,000 crore, with loan assistance of Rs 3,572 crore from the Japan International Co-operation Agency (JICA), he said.
On the investment scenario, Panneerselvam said of the Rs 26,625 crore proposed investments, projects worth Rs 10,660 crore had been realised till date, creating over 10,000 job opportunities.
To further promote growth of industry and infrastructure, the government would host a Global Investors Meet in Chennai in October 2014, for which an outlay of Rs 100 crore has been provided in this Budget, he said.
As part of the industrialisation efforts in South Tamil Nadu, around 53,000 acres land will be developed in Madurai, Theni, Dindugul, Sivagangai, Ramanathapuram, Virudhunagar, Pudukottai, Tuticorin, Tirunelveli and Kanyakumari.
A Special Purpose Vehicle will be formed soon to implement the Madurai-Tuticorin Industrial Corridor for which a detailed project report has already been prepared, he said.
He announced opening of 2,000 common service centres which would handle issue of community and income certificates, under the public-private partnership (PPP) mode.
Mallipattinam (Tanjavur) Harbour would be upgraded at a cost of Rs 60 crore.
He earmarked Rs 5,300 crore towards food subsidy, Rs 300 crore more than what was announced in the revised estimates of 2013-14.
