Tamil Nadu : Political discussion has once again intensified regarding the financial situation and increasing debt of the state. Many important figures regarding the state’s debt have come to light in a new white paper released on Tuesday, whereas earlier in 2021, a similar white paper had been issued and serious concerns were expressed over the financial situation.
The figures regarding state debt revealed in the recently released white paper have become the center of political debate. It has been claimed that the state’s debt has reached the level of lakhs of crores of rupees, due to which the financial pressure is continuously increasing.
Earlier in 2021, P.T.R. The White Paper of 120 Democrats was released by Palanivel Thiagarajan, when M.K. The Dravida Munnetra Kazhagam government led by Stalin was the ruling power of the state. This white paper was based on a review of the financial management of the previous All India Anna Dravida Munnetra Kazhagam government over the last 10 years.
The 2021 document said state revenues declined during the AIADMK rule, along with a sharp increase in revenue deficit and public debt. According to the white paper, the total outstanding debt of Tamil Nadu was about Rs 1,15,412 crore in 2011-12, which increased to about Rs 5,70,189 crore in 2021-22.
On the basis of these figures, it was said that the state’s debt had increased manifold in the last 10 years and this increase was said to be more than Rs 4.5 lakh crore. Even at that time, political debate regarding this increasing debt had intensified and serious questions were raised on the financial condition of the state.
Now after the latest figures revealed in the new white paper, the economic condition of the state is once again in the news. A round of allegations and counter-allegations has started between the opposition and the ruling party regarding financial management and increase in debt.
Experts believe that ever-increasing public debt can impact the development and investment plans of any state. However, the government also says that borrowing is a normal process for development projects and expansion of social schemes.
This debate over Tamil Nadu’s financial data is likely to intensify in the times to come, as the state’s economic policy and debt management are becoming major issues of political discussion.
