Union Minister Dr. Jitendra Singh addressed the media here today, unveiling key provisions of the Union Budget 2024-25 and also highlighted significant benefits for Tamil Nadu. He described the budget as forward-looking and aligned with Prime Minister Modi’s vision for India 2047.

Dr. Jitendra Singh said, “Every State including Tamil Nadu is getting its due Budget share and that there is no room for politics.”

Earlier, Dr Jitendra Singh also addressed and held an interactive session on the Budget with prominent intellectuals, opinion makers, trade leaders, chartered accountants, Economy scholars and others.

The Minister said that Tamil Nadu has received among the highest railway budget allocation among all the States, with a total of ₹6,362 crore. The State also benefited from the introduction of 6 Vande Bharat trains and the development of 77 model Amrit Rail stations. The railway budget for Tamil Nadu has seen an eightfold increase compared to the UPA era, rising from ₹879 crore to ₹6,362 crore, underscoring the central government’s commitment to enhancing the state's transportation infrastructure.

Addressing the Blue Economy's potential, the Minister for Earth Sciences emphasized Tamil Nadu’s strategic advantage with its extensive coastline. The budget includes substantial support for the Fisheries sector and the Deep Sea Mission, aimed at leveraging the state’s maritime resources for economic growth. The BJP government has prioritized these sectors to boost the Blue Economy, providing new opportunities for sustainable development and economic diversification in Tamil Nadu.

He further emphasized that the Modi government has prioritized empowering women-led governance. The focus has shifted from merely encouraging women's participation to actively supporting women-led government initiatives. To this end, the budget has earmarked ₹3 lakh crore to advance this crucial objective.

The Minister highlighted that, in a move to significantly boost the startup ecosystem, the Centre has announced the abolition of Angel tax in the Current Budget.

Tamil Nadu’s overall share in the Union Budget 2024-25 reflects a significant increase in financial support, with a 94.95% rise in tax devolution and a 157.58% increase in Grants in Aid compared to previous periods. The allocation of ₹50,873.76 crore highlights the central government’s dedication to supporting Tamil Nadu’s economic growth and development.

Responding to state government’s allegations of neglecting Tamil Nadu in the current budget, the Minister clarified that the State has indeed received its due share. He criticized the state government for being unresponsive and failing to utilize the opportunities provided. He also highlighted the state government’s neglect of water resources. The Minister emphasized that under PM Modi's leadership, there has been a shift towards equitable distribution of resources among states. He added that Tamil Nadu is receiving budget allocations in various sectors that are either on par with or exceed those of other states.

In conclusion, the minister emphasized that the Union Budget 2024-25 sets a robust framework for Tamil Nadu’s continued growth and prosperity, showcasing the central government’s strategic vision for the state’s development through targeted financial support and transformative initiatives.

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KSY/PSM