Puducherry Presents Rs 12,700 Crore Tax-Free Budget for 2024-2025

Puducherry Chief Minister N Rangasamy unveiled a Rs 12,700 crore tax-free budget for 2024-2025. The budget includes Rs 6,914.66 crore from the Union Territory's receipts and Rs 3,268.98 crore in Central assistance. Revenue and capital expenditures are set at Rs 10,969.80 crore and Rs 1,730.20 crore, respectively.

Puducherry Chief Minister N Rangasamy on Friday presented a Rs 12,700 crore tax-free budget for the fiscal year 2024-2025. As the Finance portfolio holder, Rangasamy highlighted the Union Territory's own receipts at Rs 6,914.66 crore and Central assistance, including the State Disaster Relief fund, at Rs 3,268.98 crore. The Central road fund was pegged at Rs 20 crore, while allocation under Centrally-sponsored schemes was Rs 430 crore.

During his 80-minute-long address, Rangasamy expressed his pleasure in presenting his fourth budget in the fifteenth legislative Assembly. The Central government approved a net borrowing ceiling of up to Rs 2,066.36 crore to bridge the fiscal deficit.

The Chief Minister outlined that out of the Rs 12,700 crore budget estimate, Rs 10,969.80 crore would be allocated for revenue expenditure and Rs 1,730.20 crore for capital expenditure. Major financial resources will cover committed expenditures such as salaries, pensions, loan repayments, and interest payments. A significant portion of the budget has been earmarked for welfare schemes, including Rs 1,900 crore for LPG subsidies.