BANKRUPTCY

CM RESCUES STATE FROM BRINK OF

Faced with near bankruptcy and state coffers running dry due to poor handling by the DMK government, a difficult challenge was in store for chief minister J. Jayalalithaa. But as things stand, there was to be no fear. In each of the past three years, the budget estimate exceeded ` 1 lakh crore with total estimated revenue receipts. The revenue surplus for the 2014- 15 is ` 269.36 crore.

Among the crowning achievements is the containment of fiscal deficit to GSDP at 2.84 per cent. The debt to GSDP ratio has also been maintained within the norms as laid forth by the 13th Finance Commission. Lifetime family pension has been extended to unmarried/ divorced/ widowed daughters of the pensioners. Medical assistance to the employees of the Government departments has been enhanced to ` 4 lakh from ` 2 lakhs under the new health insurance scheme. Financial assistance to the family members of the deceased pensioners was hiked to ` 50,000 from ` 35,000.

Orders have also been issued to extend the Tamil Nadu Pensioners Family Security Fund Scheme to the state government employees permanently absorbed in state sector undertakings / Central / Public Sector undertakings / autonomous bodies etc. Festival advance to all state government pensioners was increased to ` 2,000.

The Tamil Nadu Vision 2023 document envisaging an investment of ` 15,000 crore for infrastructure development was released by the Chief Minister on February 21 this year. The Tamil Nadu Infrastructure Development Board has been formed and ` 2,000 crore has been allotted in the 2014- 15 budget. It is envisaged that 20 per cent of the project cost will be funded for bridging any via- bility gap in implementation of the infrastructure projects under the public- private part nership.

New banking sub- treasuries have been established in 14 taluk headquarters. New buildings for 14 sub- treasuries and for the Thookudi District Treasury have been constructed at a cost of ` 9.07 crore. Nine new sub- treasuries in nine taluk headqurters were also set up. Administrative sanction has been accorded for constructing own buildings for 33 sub- treasuries, which are now functioning in rented buildings at a cost of ` 19.82 crore.