State on verge of bankruptcy, infra loans used for daily expenses, alleges Annamalai
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
CHENNAI: In a scathing attack on the ruling DMK government, BJP state president K Annamalai questioned the state's financial management on Sunday, alleging that the State 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.
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He alleged that the loans borrowed by the State government are being utilised 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 fiscally irresponsible and 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, claiming that internet connections have been disconnected in 385 offices due to non-payment of fees for several months.
He claimed that this has severely affected students' education and disrupted the preparation of teachers' salary lists.
"The fact that educational offices cannot even pay 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 about the DMK government's utilisation 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 the State deserve to know how their hard-earned money is being spent," he said, demanding a clarification from Chief Minister M K Stalin on the state's financial situation and the measures being taken to address the crisis.