As Tamil Nadu Finance Minister Thangam Thennarasu is set to present the fifth State Budget of the current DMK regime for 2025-26 on Friday (March 14, 2025), here’s a look at Finance Ministers and select Budgets tabled in the Assembly since Independence.
B. Gopala Reddi, who presented four Budgets (1948 to 1951), created history on February 25, 1948, by submitting the State’s first Budget in independent India. He had the distinction of having the then Governor Archibald Nye personally watching his performance by sitting in the Governor’s box of the Assembly for some time. Touching upon the assassination of Mahatma Gandhi in his Budget speech, Reddi announced that Prohibition would cover the entire State by October, the birth month of Gandhi. The move would entail a total loss of ₹17 crore.
B. Gopala Reddi presenting the Madras Budget for 1951-52 in the Madras Legislative Assembly
| Photo Credit:
The Hindu Archives
A.B. Shetty presented the interim Budget for 1952-53 in March 1952, in view of the delay in the formation of the Council of Ministers after the election to the Assembly. Pointing out that the State, then encompassing many parts of Andhra Pradesh, Karnataka, and Kerala, had suffered for the fifth successive year from “adverse seasonal conditions,” Shetty referred to “famine conditions” in Rayalaseema and other drought-hit districts and expressed hope that his government’s request to the Union government for substantial assistance “would evoke a favourable response in quick time.”
A.B. Shetty presenting the Budget for 1952-53 in the Madras Legislative Assembly
| Photo Credit:
The Hindu Archives
C. Subramaniam, the only Tamil Nadu Finance Minister (1952-1962) to become a Union Finance Minister (October 1974-March 1977), was a key figure in 13 Budgets. In his first Budget, he proposed the levy of surcharge of one pie per mile on passengers travelling by public transport buses as one of the measures to meet a revenue deficit of about ₹3.6 crore. Governor Sri Prakasa delivered his customary address to the House on the morning of June 27, 1952, and the Budget was presented in the evening, prompting a prominent Opposition member P.P. Ramamurti to point out that the debate on the Governor’s address should precede the Budget — an objection overruled by Speaker Sivashanmugam Pillai. In the Budget for 1957-58, Subramaniam announced the provision of ₹10 lakh for the supply of midday meals to poor children in primary schools, in addition to effecting re-adjustment in General Sales Tax and increase in the Agricultural Income Tax on plantation to partially meet the deficit of ₹4.83 crore.
C. Subramaniam, Tamil Nadu Minister for Finance, is seen presenting the State Budget for the year 1953-’54 at the Madras Legislature on March 14, 1953.
| Photo Credit:
The Hindu Archives
M. Bhaktavatsalam, who became Finance Minister after the 1962 poll and presented four more Budgets, announced the establishment of a Regional Engineering College in Tiruchi with an annual intake of 250 students, with the Union government providing about ₹60 lakh and the State government, the cost of land and recurring expenditure. He referred to the “liberal assistance” of ₹3 crore by the organisation CARE, based in the U.S., to the midday meal scheme in the form of rice, wheat milk powder, and vegetable oil during 1961-62. He mentioned that an Industrial Adviser would be hired to prepare project reports for metallurgical and engineering industries, and such reports would be given free of cost to prospective industrialists.
M. Bhaktavatsalam presenting the State Budget for 1965-66 in the Madras Assembly on March 1, 1965
| Photo Credit:
The Hindu Archives
C.N. Annadurai, who led the DMK and its allies to a stunning victory over the Congress in 1967, was the second Chief Minister-Finance Minister of the State since Independence. In his maiden Budget speech, he observed that apart from Constitutional provisions, practices and conventions evolved in the last 15 years of economic planning had “tended to strengthen the role of the Central government at the expense of States.” He announced the State government would award gold medals annually to inter-caste couples. A sum of ₹10 lakh was set apart for initiating the project of drawing Cauvery water for Chennai. He announced the government would take over three private electricity licensees in the then composite Thanjavur district — Kumbakonam Electric Licence; Nagapattinam Electric Licence; and Mayavaram (Mayiladuthurai)-Mannargudi-Tiruvarur Electric Licence — “without further delaly.” He made it clear that his government had no intention to scrap Prohibition and in the Legislative Council. Annadurai said the “voluntary cut” of 50% in the salary of Ministers would save ₹54,000 annually. He presented one more Budget.
C.N. Annadurai presenting the Budget for the year 1968-69 on the floor of the Legislative Assembly on February 25, 1968
| Photo Credit:
The Hindu Archives
K.A. Mathialagan, who became Finance Ministe following Annadurai’s death in February 1969, had also submitted two Budgets. In March 1970, he announced the decision to amend the Land Ceiling Act to lower the ceiling limit from 30 standard acres to 15 standard acres. Chennai would be made free of slums in a phased manner over seven years, for which ₹1 crore had been provided.
K.A. Mathialagan, Finance Minister of Tamil Nadu, is seen presenting the Budget for the year 1969-70 on the floor of the Legislative Assembly on March 01, 1969.
| Photo Credit:
The Hindu Archives
M. Karunanidhi, who became Chief Minister in February 1969 and took over Finance from Mathialagan in September 1970, delivered Budget speeches on 13 occasions in different spells — 1969-76, 1989-91, and 1996-2001. In his maiden Budget speech in June 1971, he announced the withdrawal of Prohibition, effective August 30 that year. He called for a “radical restructuring” of the Centre-State relations to “bridge the large gap” between income and expenditure in the State’s Budget. Presenting the State’s Budget in March 1989 after a gap of over 13 years and amid pandemonium in the Assembly, Karunanidhi began his speech by referring to “severe financial constraints” under which the Budget had been prepared. He announced a slew of concessions for farmers, such as waiver of penal interest on short-term and medium-term loans. He also announced that the rural youth who had completed 10th standard would be employed in activities such as adult literacy and maintenance of drinking water facilities, and that they would be paid an honorarium of ₹200 a month. In the Budget for 1996-97, he had unveiled major and long-pending systemic reforms in sales tax, besides reducing tariffs on certain essential items of consumption and industrial input.
M. Karunanidhi on his way to present the State Budget on March 1, 1972
| Photo Credit:
DIPR
Nanjil K. Manoharan, the first Finance Minister of the AIADMK government, was responsible for the preparation of three Budgets. In his first Budget in July 1977, Manoharan announced the government would implement the 10+2+3 pattern of education as part of vocationalising the higher secondary school stage. As for students from Scheduled Castes/Scheduled Tribes, the government would reimburse special and examination fees to all up to the school-leaving stage, regardless of the parental income limit. This would be in addition to the free supply of textbooks to SC/ST students. In the post-matric stage, tuition fee would be waived for students from the two communities.
Tamil Nadu Finance Minister Nanjil K. Manoharan, circa 1979
| Photo Credit:
The Hindu Archives
V.R. Nedunchezhian, became Finance Minister first in 1980 when M.G. Ramachandran of the AIADMK was Chief Minister. He held the post till MGR’s death in December 1987. The veteran politician returned as Finance Minister when Jayalalithaa became Chief Minister in June 1991. He holds the distinction of having presented the highest number of Budgets — 14. In February 1982, he announced the government’s proposal to give one nutritious meal a day to poor children from July 1 that year. He also raised concerns over the functioning of the erstwhile Tamil Nadu Electricity Board, whose earnings, according to the Minister, did not cover even its operation and maintenance costs and other essential liabilities, forcing the utility to go for an upward revision of tariff. In his Budget speech for 1984-85, the Minister said the Nutritious Meal Programme would be extended to cover schoolchildren in the age group of 10 to 15 years from September 15, the birth anniversary of Annadurai.
Accompanied by M.G. Ramachandran, V.R. Nedunchezhian arriving at the Legislative Assembly to present Tamil Nadu’s Budget for 1984-85 on March 3, 1984
| Photo Credit:
DIPR
C. Ponnaiyan, as Finance Minister in May 2001, presented a White Paper on the State’s finances. The Budget was noteworthy for his reference to “unsustainably wide revenue deficit” caused by the “uncontrolled growth” of the salaries and pension liabilities. Mr. Ponnaiyan announced the government’s move to constitute a Staff and Expenditure Review Commission to identify “avoidable expenditure” to the government. Among the highlights of the Budget were the plans to revive the Cradle Baby Scheme and to reclaim 20 lakh hectares of wastelands through the cooperation of the private sector and people’s participation. Mr. Ponnaiyan presented five more Budgets.
Jayalalithaa and C. Ponnaiyan on their way to the Assembly for the Budget presentation
| Photo Credit:
Bijoy Ghosh
K. Anbazhagan became Finance Minister in 2006 in his fourth innings as Minister and like Mr. Ponnaiyan, he also presented six Budgets, including the interim Budget in 2011. In his maiden Budget in July 2006, he stated that the DMK government was “determined to uphold the rights of our State and promote the well-being of our people by adopting a non-confrontationist attitude” towards the Central government and the neighbouring State governments. In March 2007, he announced that as an “immediate and temporary measure” to control price rise, essential commodities such as pulses and cooking oil would be distributed through fair price shops.
Finance Minister K. Anbazhagan presenting the interim Budget in the State assembly in Chennai
| Photo Credit:
PTI
O. Panneerselvam, Finance Minister of the AIADMK regime led by Jayalalithaa (2011 onwards), came closer to Nedunchezhian’s record in 2021. By then, he had delivered 11 Budget speeches. In March 2012, he projected that the government would have a “sizable revenue surplus” of around ₹2,376 crore during 2012-13 and the economic growth of the State was expected to be around 9.39% for 2011-12. In February 2019, Mr. Panneerselvam came down heavily on the Centre and said the implementation of the 14th Finance Commission’s recommendations and the delay in the release of funds from the Union government were “placing stress” on the State’s finances.
O. Paneerselvam presenting the 2021-22 Budget in the State Assembly
| Photo Credit:
S.R. Raghunathan
D. Jayakumar, in his only Budget speech in March 2017, termed as “temporary” the breach suffered by the State with regard to fiscal deficit, which was, at 4.58%, projected to exceed the Fiscal Responsibility Budget Management Act’s norm of 3% of the Gross State Domestic Product during 2016-17.
Finance Minister D. Jayakumar presenting the Budget in the Assembly on March 16, 2017
| Photo Credit:
S.R. Raghunathan
Palanivel Thiaga Rajan became the natural choice for the post of Finance Minister in the Cabinet headed by M.K. Stalin in 2021. Days before his inaugural Budget, Mr. Rajan released a White Paper, “the most significant finding” of which was, according to him, the deterioration of the tax-GSDP ratio of Tamil Nadu by 3.02% from 8.48% in 2006-07 to just 5.46% in 2020-21. In his maiden speech, he assured the State that “deeper reforms” would be undertaken to ensure that Tamil Nadu’s debt overhang was corrected “without any delay.”
Tamil Nadu Chief Minister M.K. Stalin with Finance Minister Palanivel Thiaga Rajan before the presentation of the State Budget in the Assembly on August 13, 2021
| Photo Credit:
PTI
Thangam Thennarasu, who delivers his second Budget speech on Friday (March 14, 2025), focused on inclusive growth, pro-poor measures, infrastructure development, and allocation for ongoing welfare schemes in his first speech in February 2024, amid a tight financial situation, taking a glide path of fiscal consolidation.
Tamil Nadu Finance Minister Thangam Thennarasu, holding a briefcase containing the documents of the State Budget 2024-25, arrives with Chief Minister M.K. Stalin to present it in the State Assembly
| Photo Credit:
ANI
Published – March 13, 2025 06:02 pm IST
