The Tamil Nadu budget for 2023-24 includes a Global Investors Conference to be held in Chennai. The Indian state of Tamil Nadu is an attractive destination for companies looking to invest. The Tamil Nadu government is planning on holding an investor conference in 2024, with the aim of attracting many new businesses to the region. The State government strongly believes this area to be attractive to investors. Tamil Nadu is considered to be the best state to live in India and has been at the forefront of attracting investment.
Tamil Nadu Finance Minister stated that proper numeracy and writing skills are important for people of all ages and social classes, and the government has introduced a scheme to teach these skills. The program, which aims to teach numeracy and writing by 2025, has been successful in teaching 15,89,235 children. The government plans to extend this program to 110 crores in the next calendar year and also aims to make it accessible to men in the 4th and 5th grades.
Key Highlights of TN Budget 2023-24
The Tamil Nadu Budget Highlights 2023-24 were announced by the state finance minister, including the construction of a state-of-the-art global sports city in Chennai, and Rs 25 crore for factory skill schools and Metro rail projects in Coimbatore and Madurai. Additionally, the Jawaharlal Nehru Outdoor Stadium will be renovated at an estimated cost of Rs 25 Crore.
For the upcoming financial year, the state government will prioritize education by constructing classrooms, laboratories, and toilets at a cost of Rs 1,500 crore. The government will also extend the free bus pass scheme to 591 more elderly Tamil scholars.
To address the gaps in development and infrastructure deficit of North Chennai, the government will implement the ‘Vada Chennai Valarchi Thittam’ scheme at a cost of Rs 1,000 crore over the next three years. Furthermore, the ‘Annal Ambedkar Business Champions Scheme’ will provide 35% capital subsidy and a 6% interest subsidy for loans to procure machinery and equipment to SC/ST entrepreneurs, with an allocation of Rs 100 crore.
The Higher Education Department will receive an allocation of Rs 6,967 crore, and technical teachers will be trained with Rs 500. Civil service aspirants in the state will receive Rs 7,500 per month for 10 months to prepare for the preliminary examination, and those who clear the examination will be given Rs 25,000. Additionally, the government has set aside Rs 10 crore for the Tamil Nadu Skills Development Corporation.
Tamil Development and Culture will also be given importance, with a memorial set up in Chennai to commemorate the contribution of language war martyrs Thiruvalala Thalamuthu Natarasan. An allocation of Rs 5 crore will be used to translate PR Ambedkar’s works into Tamil, and the Tamil Nadu Government will conduct an International Tamil Computer Conference to popularize the use of Tamil in computers.
The welfare of Sri Lankan Tamils is also a priority, with an allocation of 223 crores for the construction of 3959 houses in rehabilitation camps. The gratuity for soldiers who sacrifice their lives in the line of duty will be doubled from Rs.20 lakh to Rs.40 lakh under the Welfare of Ex-Servicemen. Another 591 Tamil scholars who have matured will be given free bus travel cards, and a Chola museum will be set up in Thanjavur to showcase the achievements of the Chola kings.
Related Updates on TN State Budget 2023-24
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