Puducherry budget presented on August 22
ECONOMY & POLICY

Puducherry budget presented on August 22

The Puducherry budget for 2022-2023 will be presented on August 22 by Chief Minister N Rangasamy, who also holds the finance responsibility, with the budget session due to resume at 9.30 a.m. on the same day.

The session, which began on August 10, was adjourned following the traditional address by Lt Governor Dr Tamilisai Soundararajan. Following the approval of a Draft budget of Rs 10,697 crores by the Centre, the government is preparing to present a full-fledged budget to the Legislative Assembly. The budget must be approved by the Assembly by August 31. It should be mentioned that a Vote on Accounts for Rs 36.13 billion was passed to cover the government's expenditure for the five months from April to August.

Though the business advisory group has yet to deliberate on the length of the session, given the need to adopt the budget by August 31, the session could be limited to seven days. This means that the 'demand for grants' will be passed with little to no debate.

Most critically, the government would have only seven months to implement the budget plans, despite the fact that the budget outlay is Rs 2.82 billion higher than the previous year's allocation of Rs 104.14 billion. While the Union has allocated Rs 17.29 billion in central aid to Puducherry in its budget, the finances will be tight with no news on GST compensation.

Also Read:
Wipro receives contract from UK Treasury
Tier 2 and 3 cities emerging as major real estate marketplaces..

The Puducherry budget for 2022-2023 will be presented on August 22 by Chief Minister N Rangasamy, who also holds the finance responsibility, with the budget session due to resume at 9.30 a.m. on the same day.The session, which began on August 10, was adjourned following the traditional address by Lt Governor Dr Tamilisai Soundararajan. Following the approval of a Draft budget of Rs 10,697 crores by the Centre, the government is preparing to present a full-fledged budget to the Legislative Assembly. The budget must be approved by the Assembly by August 31. It should be mentioned that a Vote on Accounts for Rs 36.13 billion was passed to cover the government's expenditure for the five months from April to August.Though the business advisory group has yet to deliberate on the length of the session, given the need to adopt the budget by August 31, the session could be limited to seven days. This means that the 'demand for grants' will be passed with little to no debate.Most critically, the government would have only seven months to implement the budget plans, despite the fact that the budget outlay is Rs 2.82 billion higher than the previous year's allocation of Rs 104.14 billion. While the Union has allocated Rs 17.29 billion in central aid to Puducherry in its budget, the finances will be tight with no news on GST compensation.Also Read:Wipro receives contract from UK TreasuryTier 2 and 3 cities emerging as major real estate marketplaces..

Related Stories

Gold Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86574 75330

Join us Telegram

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back