Comments
Tamil Nadu Government has hiked its Plan expenditure for 2014-15 by about 14 per cent.
Addressing the State Legislature marking the start of the session, the Governor K. Rosaiah said the move will provide a fillip to the economy. The Plan expenditure target for the coming year has been set at ₹42,185 crore against ₹ 37,128 crore in the current year.
The State Government has focussed on development programmes and infrastructure for inclusive economic growth. Tamil Nadu is a pioneer in establishing a policy and legislative framework for infrastructure development and public-private partnership in the form of the Tamil Nadu Infrastructure Development Act, Rules and Regulations and the Tamil Nadu Transparency in Tenders (Public-PrivatePartnership Procurement) Rules.
InitiativesHe said the Tamil Nadu Investment Promotion Programme with the assistance of the Japan International Cooperation Agency is an innovatively designed, ₹ 770-crore programme to remove infrastructural bottlenecks through small and medium size projects.
Twelve projects spanning power, water supply, urban amenities and roads have been approved at an estimated cost of ₹ 834 crore under this programme.
This is a new initiative which provides a flexible funding option with external aid to improve the investment climate in the State. Under the Tamil Nadu Skill Development Programme, a “State Portal on Employment” will be launched as an integrated platform for job seekers and employers.
The State will also seek funding and technical support for the State Skill Development Mission from international funding agencies, the Governor said.
New corridorTamil Nadu will expedite the Washermanpet-Tiruvottriyur section of the Chennai Metro Rail project and will take up the detailed project report for the second phase of the project on newly identified corridors.
So far, ₹3,060.74 crore has been provided by the State as share capital and subordinate debt, besides back-to-back loan support of ₹3,864.83 crore from the Japan International Cooperation Agency.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.