PUDUCHERRY: The Union Territory of Puducherry will present its comprehensive budget in August and the state planning board is set meet on July 6 for finalising the draft budget.
Chief Minister N. Rangasamy, ministers, Puducherry members of parliament, and other officials will attend the planning board meeting, which will be presided over by Lieutenant Governor of Puducherry Tamilisai Soundararajan. The Union Home Ministry will receive the revised draught for approval.
After receiving approval from the Union home ministry, the Chief Minister, who also holds the finance portfolio, will propose the final budget to the state Legislative Assembly in August. However, the date of the budget presentation will not be decided till the Union Home Ministry has approved the draught budget.
It should be recalled that the UT government had previously presented a vote on accounts or an interim budget. In order to have complete clarification regarding the Goods and Sales Tax (GST) compensation, the UT administration postponed the budget presentation.
Since the introduction of the GST, the Puducherry territorial government has struggled to collect enough taxes, and now it is relying on the GST refund. The administration will not be able to submit a complete budget until it gets full clarification on GST compensation, hence it has been postponed till August.