TN Finance Minister Thangam Thenarasu tables supplementary estimates for Rs 3,531 crore

CHENNAI: State Finance Minister Thangam Thennarasu tabled the first supplementary estimates for Rs 3,531.05 crore for 2024-25 in the State Assembly.

Presenting the demands for the supplementary estimate in the House, Minister Thennarasu said that the government sanctioned Rs 1,634.86 crore as an additional loss funding grant to the Tamil Nadu Power Distribution Corporation Limited as per the guidelines for additional borrowing space of 0.50% of GSDP linked to performance in the power sector formulated by the Union government.

A sum of Rs 1,500 crore is included in supplementary estimates under demand no 15 for the Energy Department. Thennarasu added that the balance would be met by re-apportioning savings from the grants. The government has also sanctioned Rs 372.06 crore to the TN Transport Development Finance Corporation Limited to settle the terminal benefits due to the retired and voluntarily retired employees of State Transport undertakings. The Tamil Nadu Contingency Fund Act 1954 has been amended and the contingency fund enhanced from Rs 150 to Rs 500 crore vide Act no 6 of 2024 in order to obtain appropriation, Rs 350 crore is included in supplementary estimates.

The government has sanctioned Rs 70 crore to TN Milk Cooperative Milk Producers' Federation Limited as a grant to provide incentives to milk producers.