Panneerselvam, who is also holding the financial portfolio, did not impose any new taxes.Instead, he reduced VAT on cellphones and LED lights from 14.5% to 5%. Vat on cardamom has also been reduced from 5% to 2%.The chief minister announced exemption of VAT on mosquito nets and fishing accessories like fishing ropes and floats, fish net twine, fishing lamps and fishing swivel.
The budget speech, which highlighted the achievement of party chief and former chief minister J Jayalalithaa, mainly focused on budgetary allocations for different departments and schemes.
The chief minister said Rs 55,100 crore would be allocated for different department and schemes for the year 2015-16. Out of this, Rs 20,936 would be allocated for school education department and Rs 3,696 for higher education. Rs 480 crore would be allocated for the bus pass scheme for students.
A sum of Rs 13,586 crore has been allocated for the state electricity board while revenue department has got Rs 6,126.
The police department would get Rs 5,568 crore while a sum of Rs 1,260 crore was allocated to the greenhouse scheme. The health department would get Rs 8,245 crore.
The budget allocated Rs 500 crore for Chennai city's development.
The chief minister said 12,000 cows and six lakh goats would be distributed the deserving people in 2015-16.
DMK members staged a walkout before Pannerselvam presented the budget in the assembly.
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