AIADMK govt.’s development claims a farce, says DMK
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‘T.N.’s cumulative income deficit hit ₹1,31,000 cr. in 5 years’
DMK MLA and IT wing secretary P.T.R. Palanivel Thiaga Rajan on Monday stated the Tamil Nadu authorities’s Vetrinadai Podum Tamizhagam (Tamil Nadu marches on efficiently) marketing campaign was a farce for the reason that State’s cumulative income deficit had touched a whopping ₹1,31,000 crore in 5 years.
“This is unheard of in any State or country in the world. That is why we say leadership matters. I do not understand the slogan of the government that says Tamil Nadu is on the path of progress,” he stated in a pre-Budget evaluation. The authorities is ready to current its interim Budget on Tuesday.
Mr. Thiaga Rajan stated the DMK authorities, led by Kalaignar (M. Karunanidhi), achieved a income surplus of ₹2,386 crore between 2006 and 2011, whereas it turned a ₹17,057 crore deficit underneath Jayalalithaa. “People are irritated by Chief Minister Edappadi K. Palaniswami and his Deputy [in government] O. Panneerselvam’s claims,” he stated.
‘Fiscal management’
Mr. Thiaga Rajan stated whereas States like Odisha and Chhattisgarh have been capable of generate revenues via mines, Tamil Nadu, which was blessed with related pure sources, may generate solely ₹900 crore via the Tamil Nadu Minerals Limited (TAMIN). “The situation in Tamil Nadu speaks of its poor fiscal management,” he stated.
Citing extensively from the fifteenth Finance Commission report, he stated within the final 10 years underneath the AIADMK rule, the State’s revenues had been decimated and it had resulted in elevated debt accumulation.
“State borrowings have mostly been utilised to finance interest payments and not for development projects and infrastructure development. The debt has reached ₹5 lakh crore. Its own revenue has come down from 10.59% during the DMK regime to 7.2% now,” he stated.
According to him, manufacturing and building actions had slowed down from 10.9% between 2005 and 2011 to 4.6% between 2011 and 2017.
“It is explained by the study on State finances by the Madras School of Economics. This is a major concern because both sectors are significant for employment generation,” Mr. Thiaga Rajan stated.
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