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Tax-free budget for Puducherry

— Photo: T. Singaravelou

SPREADING CHEER: Chief Minister N. Rangasamy presenting the budget for 2008-09 in the Puducherry Assembly on Thursday.

PUDUCHERRY: The tax-free budget for 2008-2009 presented by Chief Minister N. Rangasamy on Thursday focussed on the welfare of farmers, fishermen, Adi Dravidars, unemployed youth and self-help groups.

It is the sixth tax-free budget out of the seven presented by Mr. Rangasamy.

The government has come out with proposals such as precision farming, setting up of a fisheries training institute, Rs. 20-crore crop loan at an interest rate of 4 per cent, earmarking Rs. 153 crore under the Special Component Sub Plan and establishing a textile park to enhance job opportunities.

Mr. Rangasamy said the Gross Budget Estimate for 2008-2009 was Rs. 3,333.24 crore, of which Rs. 1,750 crore came under plan, Rs. 1,553.40 crore under non-plan and Rs. 29.84 crore under Centrally-sponsored schemes. The funding pattern would be Rs. 703.05 crore as grant from the Centre, Rs. 1,225.79 crore as loan from various sources and Rs. 1,404.40 crore from the Union Territory’s own resources. Mr. Rangasamy exuded confidence that the government will be able to mobilise adequate resources required for the next financial year.

Among the proposals in the agricultural sector is a scheme to cover 1,000 ha under precision farming over five years. A sum of Rs.2 crore has been earmarked for it in the Annual Plan for 2008-2009. “The scheme will be implemented under the guidance of agricultural scientists of Tamil Nadu Agricultural University,” said Mr. Rangasamy.

Similar to Self-Help Groups (SHG) for women, the government will form SHGs for farmers during the next financial year.

Mr. Rangasamy outlined the government’s plans to promote the fisheries sector. A total of 295 acres of fresh water area would be brought under fish culture by granting input subsidy at the rate of Rs. 5,000 an acre besides covering 25 acres for fresh water prawn farming.

The government proposes to develop handicrafts production on the lines of the ‘one village one product’ movement of Japan and other Asian countries. Availing assistance from the National Cooperative Development Corporation to rehabilitate and modernise two cooperative spinning mills, offering 50 per cent subsidy for members of the SHGs to induct 5,000 more milch animals, and starting a fly ash brick-making unit are among the proposals in the cooperation sector.

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