‘Tn finances in dire straits, to be fixed in 5 yrs'
The New Indian Express Chennai|August 10, 2021
PTR releases white paper, says public debt per family is ₹2.63 lakh. The report highlights high industrial tariff, which made TN uncompetitive. Hikes can be expected in power tariff, property tax, motor vehicle tax? Drop of 20 % in TN’s share during 14th Finance Commission. Average revenue from vehicle tax substantially lower in State
T MURUGAN ANDHAM

HIGHLIGHTING the “mismanagement of funds” during the previous AIADMK regime on various counts, Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Monday said the State’s finances were in dire straits, and indicated that structural reforms to put the economy back on track would follow in the ensuing revised Budget for 2021-22. He also promised that the “deterioration of the State’s finances” during the past seven years would be set right in the next five years.

“In the last three-to-four years, borrowing has been resorted to even for non-discretionary spending, like salaries, pension and interest payments, which were for many years before met out of the regular revenue receipts of the government. This practice must be stopped,” the minister said, releasing a white paper on the State’s finances.

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