Former Chief Minister O. Panneerselvam has criticized the DMK government, claiming that Tamil Nadu’s financial condition has deteriorated under its administration despite imposing a financial burden of over ₹1 lakh crore on the public. He attributes the crisis to inefficient governance.In his statement, Panneerselvam pointed out that the DMK government had promised to reduce the state’s debt burden and reform public sector enterprises. However, after 43 months in power, the state’s financial health has plunged to alarming levels, as stated by the Comptroller and Auditor General of India (CAG).
Panneerselvam highlighted the drastic increase in Tamil Nadu’s revenue and fiscal deficits:
In 2018-19, the state’s revenue deficit stood at ₹23,459 crore, which rose to ₹36,215 crore by 2022-23.
Similarly, the fiscal deficit increased from ₹47,335 crore in 2018-19 to ₹81,886 crore in 2022-23.
Additionally, Tamil Nadu’s total debt has ballooned to ₹8,33,362 crore under the DMK’s rule, further exacerbating the state’s financial woes.
The financial condition of public sector undertakings (PSUs) in Tamil Nadu is also dire. Panneerselvam pointed out that the cumulative losses of the state’s transport corporations doubled from ₹24,718 crore in 2018-19 to ₹48,478 crore in 2022.
Panneerselvam accused the DMK government of imposing higher taxes across all revenue streams under its control. Despite collecting over ₹1 lakh crore from the public, the state’s financial management remains in shambles, he claimed.
The former Chief Minister argued that financial mismanagement is part of a larger pattern of failures under the DMK government, which also includes the decline in law and order and water management.
Panneerselvam asserted that only a change in governance can rectify the situation. He expressed confidence that the mismanagement under the DMK government will lead to its removal, paving the way for the revival of governance principles laid out by former Chief Minister J. Jayalalithaa.
“The day is not far when Jayalalithaa’s vision will once again guide Tamil Nadu,” he concluded in his statement.