Tamil Nadu’s GST revenue grew by only 3% in October, a contrast to the double-digit growth seen in neighbouring states.
Former finance minister Thangam Thennarasu raised concerns about signs of economic stagnation under the TVK government. He urged an immediate effort to stimulate domestic production.
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Thennarasu mentioned GST growth numbers for October in a post on X, underscoring the gap. Kerala recorded 23% growth, Andhra Pradesh 24%, Karnataka 18%, and Telangana 14%, but Tamil Nadu witnessed only 3%.
Former chief minister and DMK president M K Stalin raised concerns about the financial performance of the State, asserting that the GST growth of the State under the TVK government was less than the national average.
Criticising the government, he alleged that a proposed Korean investment of ₹1,614 crore for Tamil Nadu went to Andhra Pradesh due to the state government’s negligence.
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Stalin also alleged that ‘Guidance Tamil Nadu,’ the agency responsible for attracting investment to the state, has been sidelined, attributing this to the ‘personal ego’ of certain individuals within the current administration.
He further accused Chief Minister C. Joseph Vijay of focusing on campaigning in constituencies where by-elections are being held, rather than addressing the state’s economic concerns.
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Meanwhile, Thennarasu stated that there has been a marginal increase in total tax revenue, driven by taxes collected on certain key imported goods, whereas revenue from the state’s own production has been consistently declining. He described this as a sign of broader economic stagnation.
Source: timesofindia.indiatimes.com
