Tamil Nadu Assured Pension Scheme will be implemented as soon as Centre sanctions borrowing of ₹11,000 crore, says Marie Wilson

Published 10 August 2026 · politics

Tamil Nadu Finance Minister Marie Wilson said on Monday that the Tamil Nadu Assured Pension Scheme (TAPS), introduced by the DMK government, would be implemented

Tamil Nadu Finance Minister Marie Wilson said on Monday that the Tamil Nadu Assured Pension Scheme (TAPS), introduced by the DMK government, would be implemented if the Union government granted sanction for borrowing the ₹11,000 crore earmarked for the scheme. Responding to AIADMK MLA Sevvoor S. Ramachandran, Mr. Wilson said, “TAPS can be implemented only when the Government of India approves the borrowing. Until then, we have decided to give an interim payout to those who retired or are retiring on or after January 1, 2026. We will do it as soon as the Union government accords sanction,” he said. Earlier in the day, AIADMK Nannilam MLA R. Kamaraj said the TVK’s maiden Budget did not have any announcement related to the party’s election promises, including ₹2,500 a month for women, free travel for women in all buses, financial assistance of ₹4,000 for the unemployed, and improved financial assistance to the elderly and persons with disabilities. He said, “Nothing has been announced. You have just announced that the Budget has been named ‘Vettri Budget’. It is a disappointing Budget. The prices of essential items have increased. The Finance Minister said the government required two years to stabilise the State’s finances. On the same day, officials said the debt could never be reduced even after 50 years. Is this why you have constituted a committee headed by renowned economist Montek Singh Ahluwalia?” Wilson responded, “We have communicated the financial situation when we released the White Paper.

In 2021-22, the revenue deficit was ₹46,538 crore and in 2025-26, it was ₹78,324 crore. This is the highest ever. The State’s Own Tax Revenue has declined from 5.93% to 5.45%. The GSDP has declined from 1.79% to 1.44%. It is in this situation that the TVK has formed the government.” He added, “In this Budget, we have announced the implementation of 125 of the 436 promises made in our manifesto. As for the borrowings, in 2025-26, the DMK government had borrowed ₹19,337 crore. In this quarter, we have borrowed ₹20,881 crore. Many have said this is higher. But, when we consider it along with the GSDP for the respective quarters (borrowings/GSDP), the DMK government had borrowed 0.54%, while the TVK government has borrowed 0.51%. We are reducing the debt.” Ramachandran also urged the government to state in clear terms when and how the TVK’s election promises would be implemented. “Earlier, the government said the financial assistance for foodgrains and sugarcane is historic. This increase happens every year. Next year, you have to increase the assistance... This is not historic. How could anyone give the assistance given this year in 2016?” Food and Civil Supplies Minister P. Venkatramanan responded, “In the years it was in power, the DMK had never given more than ₹100 for Grade A/common grade stalks (sugar cane). In 2023-24, Grade A saw an increase of just ₹7.