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Puducherry Chief Minister V Narayanasamy today presented a ₹6,945-crore, tax-free budget for the fiscal 2017-18 amidst a boycott by the Opposition AINRC and AIADMK legislators.
Narayanaswamy said ₹4,445 crore was under non-Plan head and ₹2,500 crore under Plan. The contribution from Puducherry government’s own resources “is estimated at ₹4,022 crore and the Central assistance of ₹1,411 crore.”
He said the anticipated grants from the Centre under the Centrally-sponsored schemes (CSS), including the Central Road Fund (CRF), had been estimated at ₹361 crore and the balance of ₹1,151 crore would be met through open market borrowing and also from other financial institutions. He said that out of the total budget outlay, around 60 per cent would be allocated towards committed expenditure of ₹1,650.40 crore for payment of salaries, ₹663.27 crore for pension, ₹1,112.88 crore for debt services (payment of interest and repayment of loan) and ₹1,012.19 crore for purchase of electricity.
The Chief Minister said, “Despite financial hardship, my government has implemented the recommendations of the Seventh Pay Commission.”
He said fiscal 2016-17 was “not a financially favourable year for revenue mobilisation because of impact of demonetisation and various judicial pronouncements related to excise and registration matters.”
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