The Congress on Wednesday held an all-party meeting to discuss the financial situation of the Union Territory.
In his opening remarks, Chief Minister V. Narayanasamy urged the political parties to provide constructive suggestions to improve the financial situation of the Union Territory.
He sought suggestions on ways to improve the revenue collection without putting additional burden on people.
The territorial administration was battling a serious financial crisis as the time had come for the Union Territory to repay the principal amount borrowed from the open market through the Reserve Bank of India in 2007. In the last financial year, the government had to repay ₹337 crore borrowed in 2007.
The all-party meeting was convened to arrive at a consensus on the means to improve revenue collection, said a Congress member.
The All India N.R. Congress, the principal Opposition party, and the All India Anna Dravida Munnetra Kazhagam boycotted the meeting.
