Tamil Nadu Finance Minister Palanivel Thiagarajan Says Innovative Measures Needed To Correct State's Finances
Speaking to a television channel soon after being sworn in as the Finance Minister, Thiagarajan said the state government's finance went bad during the past seven years. Thiagarajan said the standard methods will not be able to bring back the state finances to comfortable levels and it needs some innovative measures.
Chennai, May 7: Innovative measures are needed to correct Tamil Nadu's financial position, said state's Finance Minister Palanivel Thiagarajan.
Speaking to a television channel soon after being sworn in as the Finance Minister, Thiagarajan said the state government's finance went bad during the past seven years. MK Stalin Takes Oath As Tamil Nadu Chief Minister Along With 33 Other Ministers
Thiagarajan said the standard methods will not be able to bring back the state finances to comfortable levels and it needs some innovative measures.
The state's debt is about Rs 5 trillion.
Hailing from a political family Thiagarajan did his schooling at the Lawrence School, Lovedale and graduated from National Institute of Technology, Tiruchirappalli (formerly Regional Engineeringn College).
Thiagarajan later got a master's degree in Operations Research and a doctorate. He had also finished MBA in Financial Management at MIT Sloan School of Management.
He had worked with Lehman Brothers and then with Standard Chartered Bank, Singapore.
Thiagarajan had earlier said the tax to gross state domestic product ratio had come down to less than 10 per cent.
(The above story first appeared on LatestLY on May 07, 2021 12:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).