Tamil Nadu govt tables Budget for 2021-22, plans new industrial parks, FinTech City, life sciences policy

Presenting the budget for 2021-22 Finance Minister Palanivel Thiaga Rajan said: "Although the Government of India announced establishment of Defence Industrial Corridors connecting Hosur, Salem, Tiruchirapalli and Coimbatore, the support of the Union Government has been limited."

Chennai: Setting up of parks for manufacture of defence components/international furniture/electronic vehicle/medical devices/leather products/food products, establishing a Fintech City and coming out with a new "Life Sciences - Research and Development and Manufacturing Policy" are on the cards of Tamil Nadu government. Presenting the budget for 2021-22 Finance Minister Palanivel Thiaga Rajan, taking a dig at the Central government said: "Although the Government of India announced establishment of Defence Industrial Corridors connecting Hosur, Salem, Tiruchirapalli and Coimbatore, the support of the Union Government has been limited." "The state government will take this project forward with the establishment of a defence component manufacturing park at Coimbatore over 500 acres at a cost of Rs 225 crore. This park is expected to attract investment of Rs 3,500 crore," Rajan said.