Chennai: The DMK government in Tamil Nadu on Monday released a white paper in the financial state to highlight the level of ‘fiscal management errors by the former AIDMK government.’ Blaming the previous AIDMK government for a steady setback from Tamil Nadu’s finances, the State Minister for Finance and Human Resources PT Palanivel Thiagarajan said the current level of fiscal deficit was not sustainable because the income deficit in the fiscal deficit exceeded 50% or more since 2017-18.
Even though in most years, since 2013-14, the fiscal deficit was maintained within a 3% limit of prescribed, it was only obeyed by delaying certain expenditure items, he said.
“These problems can be fixed.
But the usual business approach cannot continue.
This is an opportunity to influence generation generation reforms,” said Thiagarajan after releasing white paper here.
He broadly signaled more taxes “Haves” to take care of social interests “do not have”.
But he threw his hand on how and when it could be done, even while highlighting the fact that motorized vehicle tax remained unchanged for 15 years and questioned uniform tax on property and water for the poor and rich, in addition to need to distinguish between rich and ordinary consumers for 70,000 electricity in every citizen of the country.
The gap that develops between fiscal deficits and net public debt every year has been borne by transactions in public accounts and cash balances withdrawals.
Government’s total guarantee.
Nearly doubled to more than Rs 91,800 Crore only in 2020-21 only, which represents a large contingent obligation and fiscal risk for the country.
In 2019-20, Tamil Nadu had the third highest guarantee circulating among all states in India behind Telangana and Andhra Pradesh.
“The budget that I will face this Friday will be practical for six months.
Therefore someone cannot say how many changes can be embedded in this exercise.
But forward, bitter drugs will be conveyed correctly for the interests of the state that exploit the state.
Revenue for personal benefits They, “he said.
“But through wise steps, we are sure to correct seven-year errors by the AIDMK government and also fulfill all promises of appointments within five years,” said Minister.
It’s time to encourage reform, said Thiagarajan
