Tamil Nadu Budget 2024-25: Key Highlights and Major Infrastructure Projects

Finance Minister Thangam Thennarasu, on Monday, February 19, presented the Tamil Nadu budget for the fiscal year 2024-25. This budget puts a strong emphasis on setting a comprehensive roadmap for the state’s economic growth and welfare, promoting fiscal resilience and sustainable development. Here’s a quick overview of all the major announcements.

Also Read: Interim Budget 2024-25: A Glimpse into Bharat’s Prosperous Future

Highlights of Tamil Nadu Budget – 2024

Metro

• Phase II Expansion of the Chennai Metro Rail over 3 routes covering a distance of 119 Km worth INR 63,246 Crore.

• The first elevated stretch from Poonamalle to Kodambakkam will be commissioned in December 2025. An amount of INR 12,000 crore has been allocated for Chennai Metro Rail Phase-II in the Tamil Nadu budget 2024-25.

• The detailed project reports for a Metro Rail along Avinashi and Sathyamangalam road in Coimbatore, at INR 10,740 Crore, and a Metro Rail in Madurai connecting Thirumangalam and Othakkadai, worth INR 11,368 crore, were submitted to the Union Government for their approval on an equity sharing basis. The work for these shall be commenced post-approval.

• A detailed project report has been prepared for extending the metro rail route from Chennai Airport to Kalaignar Centenary Bus Terminus in Kilambakkam at INR 4,625 Crore.

• Moreover, detailed project reports will be prepared for extending the routes from Koyambedu to Avadi and Poonamalle to Parandur, in the next phase.

• A 27-storey building with a heritage design, spanning approximately 10 Lakh SqFt is proposed to be constructed opposite Chennai Central Railway Station worth INR 688 Crore, jointly by Chennai Metro Rail Limited and TIDCO. This new building will cater to the office space needs of the public sector, commercial enterprises and IT companies.

Industrial

• SIPCOT (State Industries Promotion Corporation of Tamil Nadu Limited) will develop an Integrated Textile Park, spanning 111 Acres in Salem district with an estimated investment of INR 800 Crore.

• SIPCOT will establish a new industrial park, spanning 300 Acres near Sengipatti, at INR 120 Crore.

• TIDCO (Tamil Nadu Industrial Development Corporation) will establish a new ‘Space Industrial and Pro- pellant Park‘, over nearly 2,000 Acres to promote space technology industries.

• A 3-storey industrial complex, spanning 5 Acres will be developed at Sakkimangalam Industrial Estate in Madurai district by TANSIDCO (Tamil Nadu Small Industries Development Corporation Limited) at INR 118 Crore.

Commercial

• Development of Tidel Parks at Madurai (INR 350 crore) and Trichy (INR 345 Crore), covering 6.4 Lakh SqFt and 6.3 Lakh SqFt of land, respectively.
  Additionally, Neo Tidel parks are being established in Thanjavur, Salem, Vellore, Tiruppur, and Thoothukudi.

• A state-of-the-art IT Park will be constructed by ELCOT (Electronics Corporation of Tamil Nadu Limited) in Vilankurichi in two phases, covering an area of 20 Lakh SqFt with an estimated cost of INR 1,100 Crore.

• An integrated complex comprising exhibition halls for the display of handlooms and handicrafts produced spanning 4 Lakh SqFt at an estimated INR 227 Crore in various districts of Tamil Nadu and other states.

Roads

In the Tamil Nadu Budget Estimates 2024-25, a sum of INR 8,365 Crore under the Comprehensive Road Infrastructure Development Programme (CRIDP), a sum of INR 2,267 Crore under the Chennai Peripheral Ring Road Project and a sum of INR 908 Crore for the Chennai-Kanyakumari Industrial Corridor Project have been allocated.

An allocation of INR 665 Crore for the development of crucial road infrastructure including projects like:

• Construction of an outer ring road in Sivakasi
• Ring Road in Mannargudi.
• Bypass road in Dindigul.
• A high-level bridge connecting Trichy and Srirangam.
• Widening of Avinasi to Mettupalayam road into a 4-lane road and a bridge across Koraiyar River in Marangiyur – Enathimangalam road in Villupuram district.

Bus Terminus

• A state-of-the-art integrated multi-modal bus terminus and office complex, equipped with ultra-modern amenities, will be developed at INR 823 Crore near the current Broadway bus terminus and Kuralagam building.

• Detailed project reports for the modernization of the bus terminuses and depots at Anna Nagar (West), Kalaignar Karunandhi Nagar and Mandaveli along with office and commercial complexes are under planning and will be prepared soon.

Entertainment

• A state-of-the-art Hi-tech Film City will be established in Poonamallee near Chennai, spanning approximately 150 Acres, at an estimated cost of INR 500 Crore. It will comprise studios with cutting-edge technologies such as VFX and animation, LED wall facilities, and infrastructure for film shooting and post-production activities.

• A state-of-the-art ‘Kalaignar International Convention Centre‘, spanning 3 Lakh SqFt will be built on East Coast Road, Muttukadu, Chennai. It will be equipped with modern amenities to host international exhibitions and conferences such as a conference hall accommodating 5,000 people, an exhibition hall with a capacity of 10,000 people, meeting halls, and an art gallery.

Healthcare

• A 100-bed ICU will be constructed at Perundurai Government Medical College Hospital in Erode district at an estimated cost of INR 40 Crore.

• The Tamil Nadu Government Dental College Hospital in Chennai will be upgraded at INR 64 Crore.

Residential

• To cater to the growing need for affordable housing for Government employees, the Government will construct 95 Type-B and 133 Type-C quarters, encompassing a total plinth area of 3 Lakh SqFt in Todhunter Nagar, Saidapet, Chennai, at INR 147 Crore.

Renewable energy

• 12 locations have been identified for setting up 11,500 MW pumped storage hydro power stations in Tamil Nadu. This includes establishing new pumped storage hydroelectric power stations under public-private partnership (PPP) with an investment of nearly INR 60,000 Crore.

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Source: budget_speech_e_2024_2025.pdf

Also Read:

BMC Budget 2024-25: Key Highlights and Major Projects (biltrax.com)

Leading voices share their thoughts on the Interim Budget 2024 (biltrax.com)

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Disclaimer: The information in this article is gathered using data from Biltrax Construction Data’s proprietary platform. This article uses feature images that may not be representative of the project; they are merely for illustration purposes.