T.N. should be a role model: CM to economic advisory panel

Stalin, Finance Minister hold virtual meet with members

Tamil Nadu should become the most attractive industrial destination in South Asia — a State that can provide human capital to the world — and there should not be any economic or social disparity here, Chief Minister M.K. Stalin said during a virtual meeting with members of the newly-constituted Economic Advisory Council on Friday.

Mr. Stalin and Finance Minister Palanivel Thiaga Rajan held a virtual meeting with the members of the panel — Nobel laureate Esther Duflo, former Reserve Bank of India Governor Raghuram Rajan, former Chief Economic Adviser to the Centre Aravind Subramanian, development economist Jean Dreze and former Union Finance Secretary S. Narayan.

“We have to create a situation where Tamil Nadu becomes a role model State for the rest of the country. Tamil Nadu is ready for change and these changes have to be done in a complete and swift manner. Kindly provide us with suggestions for that,” Mr. Stalin told the council.

Inclusive growth

Growth does not mean economic growth alone but must include growth in society, economy, education, thoughts and actions, he said. “Industrial growth, societal change and educational development — they should all happen simultaneously,” the Chief Minister said.

He said Tamil Nadu’s economy should become bigger, more jobs should be generated, per capita income must increase, and growth should encompass everyone.

State’s debts

“Tamil Nadu is in debt of over ₹5 lakh crore. Public sector enterprises have a debt of ₹2 lakh crore. Revenue is growing only through a few departments. The Union government has usurped our rights to levy taxes by bringing in GST. So we cannot depend on tax collections either. We have to strengthen ourselves using our own resources. Show us a path towards that,” Mr. Stalin told the council.

Mr. Stalin said the post of the Chief Minister was not an individual position, but a collective one. “I have now brought you into that collective responsibility,” he told the council. He said the State had become the pride of the world through the committee, and the move was being appreciated across India.