Other large industrial states like Maharashtra and Gujarat have seen their debt level increasing by a relatively better 64.5 percent and 60.3 percent in the same period. It is needless to say most of this debt is the consequence of Jayalalithaa’s populist bandwagon aiming at the poor of the state. Of all Indian states, only Haryana has beaten TN with a 141 percent rise in public debt. This is the sharpest increase in debt levels by a large state. In the last five years, when Jayalalithaa was in office, the debt level of Tamil Nadu has risen 105 percent from Rs 1.14 lakh crore to Rs 2.35 lakh crore. For current fiscal the TN government pegged its fiscal deficit at Rs 40,534 crore or 2.96 of GSDP. According to the Reserve Bank data, TN registered the highest gross fiscal deficit among all states in 2015-16 at Rs 31,830 crore.
But, according to an IndiaSpend analysis, TN’s debt has witnessed a 92 percent increase over five years ending 2015. At this point, TN’s debt is over Rs 2 lakh crore. The gross fixed capital formation, which indicates the investment activity too has improved significantly, touching Rs 34,091 crore in the fiscal year 2014 compared with Rs 23,054 crore when her predecessor, M Karunanidhi left office in 2010-11.īut, in the process of rolling out freebies, she also built a debt bomb for the state. The state recorded a GSDP growth rate of 8.8 percent in 2015-16 as against the country's Gross Domestic Product (GDP) growth rate of 7.6 percent, based on the 2011-12 constant prices. TN’s Gross State Domestic Product (GSDP), which fell to 3.4 percent in real terms, during 2012-13, was reversed to 7.3 percent towards 2013-14 - higher than the national average growth rate of 4.7 percent of that period. This is evident from the progress made by the state in the areas of poverty eradication, social welfare, investor-friendly measures and overall economic numbers. Jayalalithaa has been an able administrator. TN is also home to a small-sector movement with the Micro, Small and Medium Enterprises (MSME) sector providing employment to 63.18 lakh persons. ‘Amma’ is also known for her investor-friendly approach, which explains the reason why the state is home to more industries and employment than any other Indian state, according to IndiaSpend research. The THAI scheme, so far implemented in 71,126 habitations pertaining to 9,511 village panchayats and the housing scheme under which in the last four years, the Tamil Nadu Housing Board has constructed 10,059 units at a cost of Rs 565.92 crore, including 2,293 houses for the low income group.
Under this scheme, which the government claims to have given job-oriented skill training to 3.27 lakh youth. To be sure, some of these were transformative in nature in the areas of education, housing and aiding small entrepreneurs.Ĭertain examples include the World Bank-aided ‘Pudhu Vaazhvu Project launched in 2005. How did Jayalalithaa win the hearts of poor? To say the least, she was also the ‘mother’ of all freebie schemes that ensured the support of middle and lower-income class in multiple areas. People adore those products/services as mother’s blessings, thus melting the thin line between political populism and insane, often blind personality-driven politics. There are a number of such schemes that carry her name. Most of the social welfare schemes in TN are named after her - ‘Tamil Nadu Village Habitation Improvement’ (THAI) scheme (‘Thai’ in tamil means mother), “Amma Unavagam” (subsidised food), Amma Kudineer (drinking water scheme), Amma laptops, ‘Amma Baby Care Kit’,‘Amma Magapperu Sanjeevi’ and ‘Amma Arogiya Thittam’. For most part of her life, Jayalalithaa carried the stature of a demigod, first as an actress and later as a politician, universally admired by her followers as ‘mother’, before whom they never shy to prostrate. Perhaps, in these times, there is no other Indian state as TN where political leaders enjoy blind devotion of their followers, mostly the poor strata of the society. Terms like, “unparalleled”, “unflinching” “historic”, “infinite love”, “affection” are used to describe Mother Jayalalithaa, who died on Monday night at Apollo hospital in Chennai, while serving her sixth term as the chief minister. A quick glance through Panneerselvam’s 2016-17 budget document reaffirms Jayalalithaa’s iconic, cult status.
0 kommentar(er)
