The Budget also announced that every year, 1,000 civil services aspirants will be shortlisted through a screening test, and each of them will be provided 7,500 per month for 10 months to prepare for the preliminary examination. Those who clear the preliminary exam will be provided a lump sum of (25,000, and a sum of 10 crore has been allocated for the programme.

The Budget announced an allocation of 10,000 crore for Chennai Metro Rail's phase II project and announced metro rail projects for Coimbatore and Madurai, which will be implemented post approval from the Union government with funding from external agencies.

The Coimbatore Metro Rail Project will be implemented along Avinashi Road and Sathyamangalam Road at an estimated cost of 29,000 crore, the Finance Minister said. The Madurai Metro Rail Project will be implemented in the city at an estimated cost of 28,500 crore. Constructed under ground, through the central parts of the town, the Metro Rail will connect Thirumangalam to Othakadai, he added.

The Tamil Nadu Coastal Restoration Mission, Restoration of the Adyar and a scheme to upgrade the infrastructure in North Chennai were among the other schemes announced. A new textile policy and one on repowering windmills will be evolved, Mr. Thiaga Rajan said.

The government also plans to set up a "Unified Digital Infrastructure" that will create a high speed optical fibre network from the State Head quarters to all districts, which will be implemented at a cost of ₹400 crore, he said.

A proposal to provide free Wi-Fi zones in popular public places in Chennai, Tambaram, Avadi, Coimbatore, Madurai, Tiruchi and Salem also figured in the Budget. Mr. Thiaga Rajan said Tamil Nadu's Gross State Domestic Product was estimated to have grown around 14% in nominal terms in 2022-23, and the level would be sustained in 2023-24 too.

The fiscal deficit (the difference between the total revenue and expenditure excluding borrowings) has been estimated at 74,524.64 crore in the revised estimate for 2022-23, which is 3% of GSDP and a reduction of around 15,589.07 crore from the Budget estimates of 2022-23. For 2023-24, the fiscal deficit has been estimated to be 92,074.91 crore, which will be 3.25% of the GSDP.

The State plans to borrow ₹1,43,197.93 crore in 2023-24 and make a repayment of ₹51,331.79 crore. As a result, the outstanding debt as on March 31, 2024, will be ₹7,26,028.83 crore. This constitutes 25.63% of GSDP in 2023-24, which is well within the prescribed norms, Mr. Thiaga Rajan said.

Media: The Hindu