Palanivel Thiagarajan: Improving TN’s financial situation and increasing GDP are government priorities: Minister of Finance Palanivel Thiagarajan


Restoring Tamil Nadu’s financial situation in the wake of the COVID-19 pandemic, increasing its contribution to the country’s gross domestic product (GDP) and reducing state interest payments are the priorities of the DMK government, the DMK said. Minister of Finance Palanivel Thiagarajan. The government would take a more inclusive approach by making all the political decisions to achieve this, he said on Saturday, speaking to members of the Tamil Nadu unit of the Confederation of Indian Industry (CII).

“Tamil Nadu must regain its first place in the growth rate at the country level, for which the government will initiate more proactive measures,” he said.

Safeguarding micro, small and medium enterprises (MSMEs) and improving the ease of doing business (EoDB) would attract more investment and generate employment opportunities in the state, he said.

“Fixing the state’s financial situation, increasing the state’s contribution to the national GDP from 10 percent to 14-15 percent and reducing the payment of state interest are the priorities of the current government”, a- he declared.

Expressing gratitude to the government of Tamil Nadu for adopting “proactive policies,” CII Southern Region President CK Ranganathan said the state has a vibrant ecosystem to attract investment in the sector. banking and financial services.

He urged the minister to revive the ‘

City ‘and suggested that the government help restructure loans to MSMEs.

Other suggestions included a 50% reduction in road tax to boost auto sales, digitization of vehicle registration to ensure transparency, and an exclusive package allowing investors to install units in cities. level II and III.

Members also urged the minister to establish a petrochemical industrial park in the state and take steps to improve and retrain young people.

CII Tamil Nadu chairman S Chandrakumar, Thiagarajar Mills chairman, T Kannan, CII-SR former chairman S Mahalingam,

, Chairman Arun Murugappan, Sundram Fasteners MD Arathi Krishna, Founder-CEO of Zoho Corporation, Sridhar Vembu were among those present during the interaction.

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