DMK chief Stalin criticises TVK government over GST slump and investment loss
The DMK leader alleged that a ₹1,614 crore Korean investment proposal has shifted from Tamil Nadu to Andhra Pradesh.
DMK chief M K Stalin on Monday criticised the ruling Tamilaga Vettri Kazhagam (TVK) government, alleging that the state is facing an economic downturn and policy paralysis. According to a report by BusinessLine, Stalin claimed that the state's Goods and Services Tax (GST) revenue growth has fallen below the national average of 22.9 per cent recorded in October.
Stalin further alleged that a Korean investment proposal valued at ₹1,614 crore, originally intended for Tamil Nadu, has moved to Andhra Pradesh. He attributed this loss to negligence by the TVK administration and claimed that the state's investment promotion agency, Guidance Tamil Nadu, has been dismantled to satisfy personal egos.
The DMK leader also accused Chief Minister C Joseph Vijay of being disconnected from economic realities, stating that the CM is focused on roadshows and by-election campaigning while the state's financial future is at risk.
DMK leader and former finance minister Thangam Thennarasu also criticised the government's economic performance. He noted that while neighbouring states like Andhra Pradesh, Kerala, Karnataka, and Telangana saw strong GST growth in October, Tamil Nadu recorded only a 3 per cent increase.
Thennarasu stated that Tamil Nadu's collections previously contracted by 1 per cent in August and 5 per cent in September. He suggested that the state should focus on increasing local manufacturing and expanding sales to international and interstate markets to improve the economy.
Thennarasu added that while taxes on imported goods provided a small boost to receipts, revenue from domestic production has been dropping, which he described as an indicator of economic stagnation.