India News | Reduction in Central Devolution of Funds Imposing Fiscal Burden on TN, Says Finance Minister
Get latest articles and stories on India at LatestLY. A drastic reduction in the devolution of funds by the Centre imposed a fiscal burden on Tamil Nadu, forcing it to borrow more to fund projects, state Finance Minister Thangam Thennarasu said on Wednesday.
Chennai, Mar 19 (PTI) A drastic reduction in the devolution of funds by the Centre imposed a fiscal burden on Tamil Nadu, forcing it to borrow more to fund projects, state Finance Minister Thangam Thennarasu said on Wednesday.
He sarcastically asked BJP legislator Vanathi Srinivasan to ensure the state received its due share from the central government so that the schemes sought by her could be implemented.
Responding to BJP Coimbatore South MLA's suggestion during a debate on the Budget in the Assembly House that the state government should look at alternative means to limit its borrowings, Thennarasu claimed that the state's rightful share from the devolution accounted to Rs 2.63 lakh crore and this amounted to 32 percent of Tamil Nadu's debts.
Earlier, initiating a debate in the House, Vanathi Srinivasan said rather than extending freebies for women, the government could think of introducing a gender-oriented budget.
"There's no foresight in the Budget to steer the state away from mounting debts," she said. The BJP leader sought the government to increase the registration fee waiver to five percent from the one percent announced for properties valued upto Rs 10 lakh registered in the name of women.
"You should not blame the Central government for your political gains," she said referring to the DMK government's criticism on fund devolution.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)