Chennai: Tamil Nadu Deputy Chief Minister O. Panneerselvam was very candid in admitting that TN faces challenges on various fronts and asserts the Budget for 2018 – 19 fiscal that he presented to the Assembly on Thursday focuses on strategies to tackle 10 challenges and lead TN onto the path of accelerated economic growth.
“Just as rising tide lifts all boats, accelerated economic growth will certainly improve the economic condition of all families,” Mr Panneerselvam said. However, to narrow down the gap between the rich and the poor and to bring about economic equality, the government will continue to implement the welfare schemes specially designed to target the poor and the downtrodden, he assured. “While giving thrust to economic development, welfare programmes continue to be part of our development paradigm,” the Deputy CM added.
Presenting the Budget in the state Assembly, he said this budget was being presented under challenging circumstances. The economy needs to be steered ahead in a hazy environment due to the transformational changes that have happened in the country post demonetisation and GST implementation. “At this critical juncture, the state is facing major challenges in attracting investments and creating more jobs; training youth to make them employable; improving farm productivity and farmers’ income; urban development and upgrading basic amenities and infrastructure; housing to the poor and achieving the objective of housing for all; natural resource management particularly in water management; eradication of poverty both in urban and rural areas; providing quality education, health care and sanitation with universal coverage; mitigating the adverse impact of climate change and protecting the coast from sea erosion and fiscal consolidation against inadequate central devolution and slow growth of tax and non tax revenues,” Mr Panneerselvam, who holds the finance portfolio, informed.
Tamil Nadu has evolved into a model welfare state and none could deny it as the welfare schemes in the realms of public health, education and social security have substantially improved the human development indices, Mr Panneerselvam said.
He exuded confidence that the Budget prepared under the “guidance” of CM Edappadi K. Palaniswami would pave the way to accelerate economic growth and bring more prosperity to the State.
