Palaniswami expresses concern over Tamil Nadu GST growth rate
The AIADMK leader noted that the state's 3 per cent GST growth in October was below the national average.
AIADMK general secretary Edappadi K. Palaniswami on Monday expressed concern regarding the 3 per cent growth in Goods and Services Tax (GST) collections in Tamil Nadu for the previous month. According to The Hindu, Palaniswami stated that this figure was much below the national average.
Palaniswami referred to the state's inflation being higher than the all-India figure and the diversion of industrial projects to other states. He questioned how GST collections could increase without industrial progress to generate jobs, Gross Domestic Production growth, and higher per capita income.
Former finance minister Thangam Thennarasu cited figures showing Tamil Nadu's 3 per cent growth trailed neighbouring states in October. Thennarasu reported that Kerala recorded 23 per cent growth, Andhra Pradesh 24 per cent, Karnataka 18 per cent, and Telangana 14 per cent.
Thennarasu said taxes on certain imported goods contributed to the modest increase, while revenue from the state's own production continued to decline. He described this pattern as an indication of wider economic stagnation and said the state needed an urgent push to strengthen domestic production.
Former chief minister M K Stalin also criticised the economic performance under the TVK-led government. Stalin alleged that Korean investments worth Rs 1,614 crore intended for Tamil Nadu shifted to Andhra Pradesh due to state government negligence.
Stalin further alleged that Guidance Tamil Nadu, the nodal agency for investment promotion, had been sidelined by the present administration. He also accused Chief Minister C. Joseph Vijay of focusing on campaigning in bypoll constituencies instead of economic concerns.