Puducherry Budget 2024-2025: A Tax-Free Financial Plan

Puducherry Chief Minister N Rangasamy introduced a tax-free budget allocating Rs 12,700 crore for the fiscal year 2024-2025. The budget includes both revenue and capital expenditures, with significant portions dedicated to salaries, pensions, and loans. Key allocations focus on welfare schemes and subsidies.

Puducherry Chief Minister N Rangasamy presented a tax-free budget involving an allocation of Rs 12,700 crore for the fiscal year 2024-2025 in the territorial Assembly on Friday. The budget size, fixed at Rs 12,700 crore, aims to address various financial needs of the Union Territory.

Rangasamy, who holds the Finance portfolio, highlighted that Puducherry's own receipts are estimated at Rs 6,914.66 crore, with Central assistance including the State Disaster Relief fund estimated at Rs 3,268.98 crore. The Central road fund is projected at Rs 20 crore while allocations under Centrally-sponsored schemes are estimated at Rs 430 crore.

In his 80-minute-long address, Rangasamy expressed his happiness in presenting his fourth budget in the fifteenth legislative Assembly. He also mentioned the Central government's approval for net borrowing ceiling to the extent of Rs 2,066.36 crore to bridge the fiscal deficit. Out of the total budget, Rs 10,969.80 crore has been allocated for revenue expenditure and Rs 1,730.20 crore for capital expenditure.

A significant portion of the financial resources will cover committed expenditures such as salaries, pensions, loans, and interest payments. Specifically, Rs 2,574 crore has been allocated for salaries, Rs 1,388 crore for pensions, Rs 1,817 crore for loan repayment and interest, and Rs 2,509 crore for power purchase. Other major expenditures include old-age pensions, welfare schemes, financial assistance to women heads of families, and LPG cylinder subsidies amounting to Rs 1,900 crore.