Tamil Nadu’s Finance Minister, Thangam Thennarasu, has presented the State Budget for the financial year 2024-25 with a focus on crossing obstacles and marching towards growth. The budget, themed ‘Crossing obstacles and marching towards growth,’ comes just ahead of the upcoming Lok Sabha election.
In his budget speech, Minister Thennarasu outlined a comprehensive seven-point objective, termed as the ‘seven grand Tamil dream,’ with a strong emphasis on social justice and inclusive growth. These objectives encompass various facets of development, including the welfare of marginalized communities, empowering Tamil youth, fostering a knowledge-based economy, promoting gender equality, ensuring a sustainable future, and preserving Tamil culture.
One of the significant allocations in the budget is the Rs 8,212 crore earmarked for the Higher Education department, aimed at enhancing educational infrastructure and introducing modern facilities such as Virtual Reality (VR) and incubation centers to nurture innovation and entrepreneurship among students.
Furthermore, the budget allocates Rs 3,200 crore for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme, demonstrating the government’s commitment to providing livelihood opportunities and reducing poverty. Minister Thennarasu highlighted the state’s efforts to uplift those below the poverty line, with plans to replace eight lakh huts with concrete houses by 2030, starting with the construction of one lakh houses in the upcoming fiscal year.
The budget also priorities infrastructure development, with Rs 100 crore allocated for enhancing facilities in beaches across Tamil Nadu and the establishment of a state-of-the-art film city in Poonamallee. Additionally, substantial investments have been allocated for projects like the second phase of the Chennai Metro rail, civic amenities including roads, and the development of industrial parks to stimulate employment generation, especially for the youth.
Notably, the budget places a strong emphasis on women’s empowerment and welfare, with allocations such as Rs 13,720 crore for the Kalaignar Women Rights Scheme, aimed at providing financial assistance to women, and initiatives like the Kalaignarin Kanavu Illam scheme to support poor families in building their dream homes.
The Tamil Nadu State budget for the financial year 2024-25 reflects the government’s commitment to fostering inclusive growth, promoting social justice, and addressing key developmental challenges. With strategic allocations and initiatives across various sectors, the budget aims to propel the state towards a path of sustainable development and prosperity for all its citizens, said the Minister.
