Business Standard
Senior BJP leader Piyush Goyal on Saturday released a document titled "Tamil Nadu Government Financial Crisis - comprehensive multi-perspective whitepaper," prepared by his party's Professional Cell in the state, and sought to know where the money received as GST compensation and the state's borrowings have gone. He sought to know how the state treasury could be empty despite receiving over Rs 80,000 crore in GST collections from the Centre and accused the DMK government of causing a financial crisis. With a debt-to-GSDP ratio of 26.4 per cent - just below the Finance Commission's 28.7 per cent ceiling - the state's fiscal health is deteriorating rapidly due to persistent revenue deficits, skyrocketing interest payments, and systemic payment defaults, the paper said. "The DMK's mismanagement has exacerbated structural imbalances, with off-budget borrowings and bleeding public sector undertakings (PSUs) masking the true extent of liabilities. GST has been a boon to TN finances with t
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