Tamil Nadu GST growth slows to 3 per cent in October
Political leaders have criticised the TVK government as Tamil Nadu's GST growth trailed the national average and neighbouring states.
Tamil Nadu recorded a 3 per cent growth in Goods and Services Tax (GST) collections in October, according to figures cited by former finance minister Thangam Thennarasu, reported Urban Acres. This growth was significantly lower than the national average of 22.9 per cent and the performance of neighbouring states.
Thennarasu stated that Kerala recorded 23 per cent growth in October, followed by Andhra Pradesh at 24 per cent, Karnataka at 18 per cent, and Telangana at 14 per cent. He described the gap as a sign that the state needs an urgent push to strengthen domestic production.
DMK president M K Stalin alleged that Korean investments worth Rs 1,614 crore intended for Tamil Nadu shifted to Andhra Pradesh due to government negligence. Stalin also claimed that Guidance Tamil Nadu, the state agency for attracting investments, had been sidelined due to the personal egos of individuals in the current administration.
Former BJP state president K Annamalai said the single-digit growth following several months of degrowth raises serious questions about the state's economy. He noted that the recovery appeared inadequate despite the festive season, school holidays, and increased tourist inflows.
AIADMK general secretary Edappadi K. Palaniswami expressed concern over the growth rate and higher inflation levels. He accused the TVK-led government of having ruined Guidance Tamil Nadu, the nodal agency for investment promotion.