Saturday, Jan 22, 2022
Outlook.com
Snapshot

White Paper, Black Matter: Cash-Strapped DMK Finds It Difficult To Fulfil Poll Promises

The manifesto was a painkiller, but reality will be a migraine for the ordinary Tamil. FM Palanivel Thiaga Rajan blames the AIADMK and hints at higher living costs all around.

White Paper, Black Matter: Cash-Strapped DMK Finds It Difficult To Fulfil Poll Promises
White Paper, Black Matter: Cash-Strapped DMK Finds It Difficult To Fulfil Poll Promises
outlookindia.com
2021-08-20T17:09:50+05:30

Finance min­ister Palanivel Thiaga Rajan (in pic) released this week a 120-page white paper on Tamil Nadu’s financial status—a measure considered a pivotal peek into what will likely be a march towards reshaping of the economy that also hews to CM M.K. Stalin’s policy ambitions. But like most white papers of new governments, the document reflects the unwrapping of a blame game and prepares the ground for citizens to pay more. Rajan, a banker before he became a politician, blamed the previous Edappadi K. Palaniswami government for its “reckless economic management resulting in the present unsustainable fiscal situation”.

In numbers those words can be translated into a revenue deficit of Rs 61,320 crore, while fiscal deficit had also climbed to Rs 92,305 crore, which was an unsustainable 4.43 per cent of the state’s GDP. “This is the highest in the country as the previous government kept borrowing to service debts and failed to spend on infrastructure,” Rajan observed and promised “once-in-a-generation reforms” to pull the state electricity department, transport corporations and local bodies out of the enormous debts they are tethered to. That can be done only by hiking power tariff, bus fares, property taxes and water charges—all of which the DMK opposed when it was in the Opposition. But now, the finance minister appears to have convinced Stalin that unless his government bites the bullet, the economy would continue to flounder.

Outlook Newsletters

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.