Chennai: DMK chief M. Karunanidhi on Thursday said the state government had failed to check the rising fiscal deficit resulting in Tamil Nadu ranking in the first place in fiscal deficit in the country.
He said though Tamil Nadu is half the size of Maharastra, its fiscal deficit is more than Maharashtra, and added that Tamil Nadu's fiscal deficit had gone up from Rs.27,350 crore in 2014-2015 to 31,870 crore in 2015-2016.
The DMK leader said as per the RBI report, the state was at the top position in growing debt burden which had increased to Rs 2.47 lakh crore. Disputing the power surplus claim of the state government, he said the report had also said there is a deficit of 69 crore units of power.
Citing the Centre's announcement to implement the Seventh Pay Commission, he said the state government too would have to implement it leading to further rise in the state government's debt.
Tamil Nadu would be caught in irrecoverable debt burden and the AIADMK government had not taken measures to avoid the danger, he complained.
