Tamil Nadu on verge of bankruptcy, alleges Annamalai

CHENNAI: In a scathing attack on the ruling DMK government, BJP state president K Annamalai on Sunday questioned the state's financial management, alleging that Tamil Nadu is on the brink of bankruptcy.

Citing the Comptroller and Auditor General (CAG) report, Annamalai claimed that the state's debt has ballooned to a staggering Rs 8.5 lakh crore.

Also Read: CAG report flags severe shortage of drugs, staff at Tamil Nadu hospitals

He alleged that the loans borrowed by the state government are being utilized for daily expenses rather than their intended purpose, such as infrastructure development and public welfare schemes.

"The DMK government's mismanagement of the state's finances is alarming. The entire loan borrowed is used for daily expenses, which is not only fiscally irresponsible but also a betrayal of the people's trust," he said in a statement.

The former IPS officer also highlighted the plight of educational institutions in the state, where internet connections have been disconnected in 385 offices due to non-payment of fees for several months.

This, he claimed, has severely affected students' education and disrupted the preparation of teachers' salary lists.

"The fact that educational offices are unable to pay even internet connection fees is a stark reflection of the state government's priorities. If the government cannot manage the finances of educational institutions, how can it be trusted to manage the state's finances?," he questioned.

Further, Annamalai asked the DMK government's utilization of the state's tax revenue and GST funds, which account for approximately 70% of the state's revenue.

"Where is all this money going?" he asked.

"The people of Tamil Nadu deserve to know how their hard-earned money is being spent" he said and demanded a clarification from Chief Minister M K Stalin on the state's financial situation and the measures being taken to address the crisis.