PMK president and Rajya Sabha MP Anbumani Ramadoss has urged the Nadu government to evolve plans and policies to reduce its debt and to increase its revenue. In a statement on Monday, Anbumani regretted that the Tamil Nadu government has decided to mobilize 51,000 crore loan to meet its expenses in the first three months in 2023.
The Tamil Nadu government must not fall into a debt trap. The government must evolve constructive ways and means to increase its revenue and reduce its debt burden, Anbumani said in the statement. He said the state has availed loans to a tune of Rs 6.53 lakh crore so far and it pays an annual interest of 48,121 crore for the loan. The interest alone amounts to more than one-third of its revenue on taxes, which is 1.42 lakh crore per year.