TN govt presents supplementary estimates for current fiscal

Finance Minister O Panneerselvam placed the supplementary estimates for Rs 5,617.14 crore in the state assembly and said additional expenditure included in the estimates will be met from an expected rise in state's own tax revenue, especially in commercial taxes and state excise.

It would also be possible by bringing in better control in expenditure, he said.

On the power front, he recalled that a total sum of Rs 1,086.25 crore had been provided as total subsidy for TNEB.

"Apart from this, Rs 2000 crore is also provided now to meet the state commitment for implementing the Financial Restructuring Package," he said.

This was part of the government's decision to assist TNEB by sanctioning grants for its various activities.

Further, he announced that the government had sanctioned a Ways and Means of Advance of Rs 1,000 crore to TNEB for "assisting its subsidiary company TANGEDCO, in the current financial year to improve" its cash management.

Besides, the government made various other allocations for different departments to take up works including construction of bridges and setting up a fisheries university at Nagapattinam among others.