Chennai, Oct 3 (PTI) AIADMK general secretary Edappadi K Palaniswami on Saturday alleged that the ruling party is pushing Tamil Nadu into a severe debt trap due to administrative inefficiency.
Addressing an election rally in Madurantakam Assembly constituency, near here, Palaniswami alleged that while the TVK had criticised the previous regime over accumulated debt, it has added over Rs 1.5 lakh crore in fresh borrowings since coming to power, raising the total debt burden towards Rs 11 lakh crore and incurring an annual interest liability of Rs 78,000 crore.
The bypoll in Madurantakam will be held on October 6.
The AIADMK has fielded K Kanitha Sampath as the candidate.
He warned and claimed that, “If this rule and trend continues, the state’s debt could cross Rs 20 lakh crore in five years, forcing a massive tax burden on the public to service Rs 1.5 lakh crore in annual interest alone.”
The former chief minister highlighted how the AIADMK administration maintained fiscal discipline despite severe revenue losses caused by the closure of TASMAC outlets, commercial establishments, factories, and transport services during Covid pandemic.
He emphasised that despite the collapse of state taxes and GST collections, his government ensured robust welfare delivery by providing free ration commodities and free meals to more than 70 lakh people daily through Amma Canteens across Tamil Nadu without placing an extraordinary financial burden on people.
Highlighting unfulfilled poll promises, Palaniswami also pointed out that TVK pledged to increase the “Magalir Urimai Thogai” (women’s rights grant scheme) from Rs 1,000 to Rs 2,500, provide Rs 4,000 monthly assistance to educated unemployed youth, and implement a full farm loan waiver.
Focusing on administrative failure and lawlessness by citing a report, the AIADMK chief alleged that state law and order had completely collapsed and corruption in government appointments.
Critiquing economic management and foreign visits, Palaniswami alleged that the government’s investment trips abroad yielded dubious results, including MOUs signed in London with firms already operating in Chennai and other parts of India. PTI SNR SNR KH
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