CHENNAI: Chief Minister MK Stalin on Friday said Tamil Nadu is ready for drastic reforms to achieve socio-economic growth involving various sectors, and to realise other dreams in many areas. He urged the Economic Advisory Council (EAC) comprised of experts, including Nobel Laureate Esther Duflo and former RBI governor Raghuram Rajan, to advise the State on key issues.
“Employment opportunities should increase in TN. Per capita income should go up and the social status of people should improve. The economic growth of the State should be inclusive. I know these dreams cannot be realised through ordinary reforms.
This would be possible only through complete and drastic reforms, and TN is ready for drastic reforms,” the CM said while addressing the first meeting of the EAC, virtually. Stalin said the State has a debt burden of over Rs 5 lakh crore, while public sector undertakings have liabilities to the tune of Rs 2 lakh crore. “TN’s revenue comes only from a few sectors.
The Union government has snatched the rights of States over levying tax by introducing the GST. So, Tamil Nadu is now in a position to prosper only by using our own resources. I request the EAC to guide the State government in this regard,” he said.
“TN has natural resources, human resources, and uniform infrastructure facilities. While being a State known globally, it is also reputed for its social responsibility. Tamils across the world wish to grow with that base. The EAC should guide the State on this count,” he added.
CM: Eliminate inequality in social and economic fronts
Stattattating that the Dravidian model of growth signifies socio-economic growth for all sections of society, Stalin said, “We should transform Tamil Nadu into a favourable destination for investments in South Asia. It should turn into a State that provides human resources to the world. We should eliminate inequality in social as well as economic fronts.” Prof Esther Duflo, Dr Arvind Subramanian, prof Jean Dreze and Dr S Narayan, IAS (retired), Finance Minister Palanivel Thiagarajan, Chief Secretary V Irai Anbu and other senior officials attended the meeting.
Speaking at the meeting, Duflo said that planning must be done on basis of proper data. She stressed that the government should prioritise the needs of vulnerable persons in society, especially the aged. Rajan said that government should support MSMEs which have been badly affected during the pandemic. He added that all efforts must be taken to stem learning loss undergone by children while schools have been closed.
Former chief economic advisor Arvind Subramanian said that TN had potential for creating employment in manufacturing, service and higher education sectors. However infrastructure to support this growth must be strengthened particularly, electricity supply. Prof Jean Dreze said the government must be transparent and should strengthen social security schemes to protect the poorest. Former union finance secretary SNarayan said more efforts must be made to educate people on schemes. Resource management must also be improved.
‘Strengthened power supply is needed’
Former chief economic advisor Arvind Subramanian said that TN had potential for creating employment in manufacturing, service and higher education sectors. However infrastructure to support this growth must be strengthened particularly, electricity supply. Prof Jean Dreze said the government must be transparent. It must also strengthen social security schemes to protect the poorest.
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