Tamil Nadu GST revenue growth falls to 3 per cent in October
Former finance minister Thangam Thennarasu noted that neighbouring states recorded significantly higher growth rates during the same period.
Tamil Nadu recorded a 3 per cent growth in GST revenue in October, which was lower than the growth rates of neighbouring states, according to figures cited by former finance minister Thangam Thennarasu in a post on X, as reported by Urban Acres.
Thennarasu stated that Kerala saw 23 per cent growth, Andhra Pradesh 24 per cent, Karnataka 18 per cent, and Telangana 14 per cent. He noted that while overall tax revenue saw a modest increase, it was partly due to taxes on specific goods imported into the state, whereas revenue from local production continued to fall.
The former finance minister described this trend as a sign of economic stagnation and called for immediate efforts to bolster domestic production. He highlighted the importance of whether tax growth comes from within the state or from goods entering it.
Former chief minister and DMK president M K Stalin criticised the economic record of the TVK government, claiming GST growth was below the national average. Stalin also alleged that Korean investments worth Rs 1,614 crore meant for Tamil Nadu moved to Andhra Pradesh due to government negligence.
Stalin further claimed that Guidance Tamil Nadu, the state's investment agency, was sidelined by personal egos within the administration. He accused Chief Minister C Joseph Vijay of focusing on campaigning in bypoll constituencies rather than addressing economic issues.
The state government and the chief minister have not responded to these allegations.