CHENNAI: DMK president M K Stalin and AIADMK general secretary Edappadi K Palaniswami on Monday criticised the TVK government over the state’s economic performance, citing the dip in GST revenue and the alleged loss of manufacturing investments, after Korean automobile parts suppliers diverted Rs 1,614 crore worth of investments from Tamil Nadu to Andhra Pradesh.
“Brace for tough times. Tamil Nadu is doomed under the TVK government,” Stalin said in a social media post, accusing the government of moving in reverse gear. He alleged that the investments, expected to come to TN, have moved to the neighbouring state due to the TVK government’s negligence. He also accused the government of allowing the Guidance TN, the state government’s investment promotion agency, to be sidelined due to the egos of individuals.
Former finance minister Thangam Thennarasu on Monday pointed out that the state’s growth in GST revenue in October was just 3%, compared to the 24% recorded by Andhra Pradesh, 23% by Keralam, 18% by Karnataka, and 14% by Telangana. He added that the government should not rely on revenue from imported goods but focus on strengthening Tamil Nadu’s production base, which would also help generate employment opportunities.
AIADMK general secretary Edappadi K Palaniswami on Monday expressed concerns over the state’s GST revenue, which was well below the national average, saying, “On one hand, inflation in Tamil Nadu is higher than the national average, placing people under severe economic strain. On the other, industrial investments that should have come to our state are all heading to Andhra Pradesh.”
Further, Palaniswami said, “We have worked hard to build a distinct development path for Tamil Nadu and set the state on its journey along that prosperous road. Do not destroy what we have painstakingly built.”