Tamil Nadu GST growth slows to 3 per cent in October
Former finance minister Thangam Thennarasu noted that the state's growth is well below the national average and neighbouring states.
Tamil Nadu recorded a GST growth of 3 per cent in October, according to figures cited by former state finance minister Thangam Thennarasu, Urban Acres reported. The growth rate is significantly lower than the national average of 22.9 per cent.
Thennarasu stated that neighbouring states saw higher growth during the same month, with Kerala at 23 per cent, Andhra Pradesh at 24 per cent, Karnataka at 18 per cent, and Telangana at 14 per cent. He said revenue from the state's own production has continued to decline.
DMK president M K Stalin said the state is in "reverse gear" since the TVK government took power. Stalin alleged that South Korean investments worth Rs 1,614 crore intended for Tamil Nadu moved to Andhra Pradesh due to government negligence.
Stalin also claimed that Guidance Tamil Nadu, the agency responsible for attracting investments, has been neglected. He made these remarks on Monday while referring to Chief Minister C Joseph Vijay's roadshow in Pudukkottai.
AIADMK general secretary Edappadi K Palaniswami and AMMK leader T T V Dhinakaran also criticised the government. Palaniswami alleged that shifting investments could reduce people's purchasing power and questioned how the government would increase GST revenue without improving per capita income.