Tamil Nadu government presents tax-free budget

CHENNAI: With an eye on the coming Lok Sabha elections, the Tamil Nadu government today presented a tax-free budget for the 2014-15 fiscal with a special focus on power and industrial sector.

In the budget presented in state assembly, Finance Minister O Panneerselvam did not propose any fresh imposts for the next fiscal.

He also said Tamil Nadu Transmission Corporation proposed setting up of a green energy corridor with an outlay of Rs 1,593 crore for evacuation of wind power with financial assistance from a German funding agency.

To promote the growth of Industry and Infrastructure, the state government has decided to hold a Global Investors Meet (GIM) in Chennai in October this year, he said.