TVK govt’s white paper on Tamil Nadu’s fiscal health draws praise and questions alike

New Delhi, June 17 (IANS) As the newly elected TVK government led by C. Joseph Vijay put Tamil Nadu’s dwindling economic health in black and white, estimating its overall financial liabilities over the years at about Rs 13.18 lakh crore, the move has drawn praise as well as questions on the new dispensation’s responsibility and accountability for fixing the state’s fiscal condition.

According to the white paper issued by Tamil Nadu Finance Minister Marie Wilson on Tuesday, the state’s outstanding debts stand at a staggering Rs 13.18 lakh crore, with the direct debt alone nearing Rs 10 lakh crore.

BJP has welcomed the white paper, stating that this showed the scale and impact of misgovernance by previous governments and sought answers from the incumbent Vijay regime about its own blueprint and roadmap for course correction.

BJP leader Tamilisai Soundararajan said, “BJP-ruled states have been able to manage economic crisis even in the post-COVID situation, why was Tamil Nadu unable to do so? Apart from that, while they are releasing a white paper, what steps are they planning to take to improve the economy? Under their promises, cash assistance for women covers 1.57 crore beneficiaries and requires around Rs 47,000 crore. Similarly, the cash support for farmers requires Rs 11,910 crore.”

“My question is, how are they going to fulfil these promises? When they knew the state’s condition, why did they promise such largesse?” she asked.

The white paper on Tamil Nadu’s finances, examining the fiscal position after the MK Stalin-led government was voted out of power, is among the Vijay government’s first major announcements after being sworn in as Chief Minister last month.

Another BJP leader, Narayanan Thirupathy, said, “Tamil Nadu’s financial position is well known. Even before the DMK left office, the state’s debt figures were publicly available. It was around Rs 5 lakh crore when the DMK came to power, and they themselves stated that it had risen to nearly Rs 10 lakh crore when they left office. Everyone is aware of these figures, so what is the purpose of issuing a white paper when the situation is already clear?”

Meanwhile, DMK has slammed the Vijay government’s white paper on the state’s finances, describing it as a bid to divert attention from its own election promises and governance failures.

“The financial position of Tamil Nadu has already been explained clearly and in detail during the presentation of the state budget,” former finance minister and DMK leader Thangam Thennarasu said in a social media post and called the white paper a ‘stunt’ to cover up its failures in fulfilling its poll promises.

DMK spokesperson T. K. S. Elangovan said, “Our former Finance Minister, Thangam Thennarasu, has stated that the data presented are incorrect. He has said that he will soon release detailed figures to expose the inaccuracies and fallacies in the white paper issued by this regime.”

–IANS

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