TN budget futuristic, aimed at propelling economic growth, says CII

Confederation of Indian Industry Tamil Nadu on Friday termed the budget presented by Finance Minister Palanivel Thiaga Rajan as futuristic, inclusive and growth-oriented propelling economic growth

Confederation of Indian Industry (CII) Tamil Nadu on Friday termed the budget presented by Finance Minister Palanivel Thiaga Rajan as futuristic, inclusive and growth-oriented propelling economic growth.

The budget was presented with the aim to strengthen the fiscal position of the state without increasing the tax burden on taxpayers, increasing employability of the youth, attracting new investments and data-driven governance, CII Tamil Nadu Chairman Satyakam Arya said.

"The reduction of fiscal deficit from 4.33 per cent to 3.80 per cent is a great achievement by the state government despite the pandemic situation," he said in a press release.

CII Tamil Nadu Vice-Chairman Shankar Vanavarayar said Tamil Nadu is a pioneer in providing high-quality education in the country and the state government has made many allocations in the budget in this sector.

"A knowledge city with the collaboration of world-renowned universities, new and smart classrooms for the government schools, modern sports complexes, district central libraries for the newly-created districts will help the students to further excel their skills," he said.

CII Southern Region immediate past chairman and noted industrialist C K Ranganathan said the focus of the budget on the agriculture sector of the economy would help to achieve an inclusive growth in the state.

The Finance Minister has introduced Tamil Nadu Green Climate Change Fund, procurement of 500 electric buses to the state transportation department, botanical garden in Chennai, and new eco-tourist places that would not only help protect the environment but also boost the tourism sector, he added.

Meanwhile, IIT-Madras Director Prof. V Kamakoti said he was appreciating and welcoming the Tamil Nadu government's announcement to fund IIT education in undergraduate programmes for students.

"It is a welcome announcement. IIT-M will work very closely with Tamil Nadu government and the government schools to see that maximum number of deserving students are benefitted by this scheme," Kamakoti said.