TN can’t repay its loan, says PMK
He added that Tamil Nadu could pay off its debt in just ten years if the actions implemented were in line with the shadow budget.
PMK president Dr Anbumani Ramadoss
CHENNAI: Anbumani Ramadoss, the president of the PMK, stated after the release of the state’s shadow budget that the current financial situation would prevent the state government from repaying its debts, even if it took 20 years.
He added that Tamil Nadu could pay off its debt in just ten years if the actions implemented were in line with the shadow budget.
“The total expenditure of the state will be Rs 5.28 lakh crore and revenue expenditure will be Rs 4.51 lakh crore. Out of total revenue expenditure, Rs 50,000 crore will be paid as principal amount to repay debts. New debts for projects will be reduced, “ the shadow budget said.
The shadow budget added that 30 per cent additional tax will be imposed on high fat and high sugar food items such as cold drinks, white sugar, pizza, burger, sandwich, shawarma and others. Moreover, 25 per cent tax will be imposed on mayonnaise.
Touching upon PMK’s long term demand of conducting caste based survey, the shadow budget promised to start the survey in Tamil Nadu on July 25.
“Based on the survey, separate reservations will be given to all the castes. Vanniyar reservation will be provided based on a report of Backward Castes Commission. A white paper on reservation from 1989 will be released, “ the shadow budget said.