New Delhi, June 11: Impressed by the fiscal and power sector reforms launched by Tamil Nadu, Planning Commission today approved an annual plan size of Rs 7000 crore for the state for the current year, a step up of 18 per cent over the last year. "I am impressed by the comprehensive fiscal reforms initiated by the Chief Minister (J Jayalalithaa) and I expect the state to turn around financially by next year," deputy chairman of Planning Commission, K C Pant said here.
Coming out after her meeting with Pant, Jayalalithaa said, "I am happy with the allocation." The state has been virtually granted the entire amount of Rs 7000.13 crore it had asked for. The state's plan performance during 2002-03 exceeded the approved outlay of Rs 5750 crore and reached Rs 5841 crore, Jayalalithaa said.
She said the approved outlay was scaled down from Rs 6040 crore to Rs 5200 crore to restore the state's fiscal health and "also the credibility of the plan process itself, and enabled Tamil Nadu to aim at a higher growth trajectory". Bureau Report