Tamil Nadu Chief Minister K Palaniswami said that the Budget
presented by Finance Minister Arun Jaitley is fairly balanced, growth-oriented, which focuses on the development of agriculture, rural development
and health sector.
Palaniswami said, "The country is going through a difficult phase of economic development. It needs acceleration and stabilisation of the growth momentum. The budget
should give a boost to increase investment, generate more jobs. There are many initiatives in the agricultural sector, which will benefit the farming community."
He further added, "Given these circumstances, this budget
is addressing the critical issues effectively and the Arun Jaitley has put his best efforts to present a balanced and growth-oriented budget. I hope that this budget will bring fiscal stability to the country and accelerate the economic growth."
The Tamil Nadu chief minister said, "though the Budget has given considerable importance to agriculture, rural development, health etc., the reduction in allocation in some of the sensitive and important schemes like post-matric scholarships for Scheduled Castes, Pradhan Mantri Mathru Vandana Yojana, Skill Development and Livelihood Mission could have been avoided.
While welcoming the standard deduction
of Rs 40,000 announced in the budget speech, Palaniswami said that this falls short of the expectations of the public.
The constitution of a dedicated Affordable Housing Fund in the National Housing Bank is a welcome move, but the allocation for the Prime Ministers’ Awas Yojana has been reduced in the Budget, said Palaniswami.