Did the Tamil Nadu government take a loan of Rs. 2 lakh crore in one year after PTR became the finance minister?
Tamil Nadu’s Debt:
Before PTR – ₹4,85,000 Crores.
After PTR – ₹6,54,000 Crores.
A Finance Minister who has borrowed close to ₹2 Lakh Crores in just a year lectures the country on Financial Prudence.
Just because one can speak English, he doesn’t become intelligent.
Prime Minister Narendra Modi has said that subsidies and freebies are the biggest disorder in Indian culture. Also, a case on whether political parties can give freebies as promises were also pursued in the Supreme Court.
In this context, Tamil Nadu Finance Minister Palanivel Thiagarajan’s speech on the India Today channel regarding freebies is going viral on social media.
In this case, “Tamil Nadu’s Debt:Before PTR – ₹4,85,000 Crores.After PTR – ₹6,54,000 Crores. A Finance Minister who has borrowed close to ₹2 Lakh Crores in just a year”, tweeted Tamil Nadu BJP’s SG Suryah. Many BJP members are sharing it on social media.
What is the truth?
Before the DMK came to power, in March 2021, Finance Minister O. Panneer Selvam in the AIADMK regime filed the interim financial report, it mentioned that the overall debt outstanding as of March 31, 2021, is estimated to be Rs. 4,85,502 crore and as on March 31, 2022, is estimated to be Rs. 5,70,189 crore. Also, it has been reported that the fiscal deficit in 2021-2022 has been contained to Rs.84,202 crore.
After this, the finance minister of the DMK government, PTR, who came to power, mentioned that the fiscal deficit would be Rs.92,529.43 crore in the revised budget report submitted in August. This is 8,327 crores higher than what was said by OPS.
Subsequently, in the budget report for the financial year 2022-23 filed in March, it has been reported that the Tamil Nadu government plans to borrow Rs. 90,116.52 crores in 2022-23 and the total debt of the government in 2022-23 will be Rs. 6,53,348 crore. It is reported that Tamil Nadu’s debt was Rs.4,85,502 crore and the fiscal deficit for the year 2021-22 will be Rs.84,202 crore under AIADMK rule till March 2021. The DMK government that came to power after that, released the revised budget. Currently, it is said in the budget of 2022-23 that it is planning to take a loan of Rs.90,116.52 crore and the outstanding loan amount will increase to Rs.6,53,348 crore.
It was said in the AIADMK regime that the fiscal deficit and rising debt amount will be Rs.5,70,189 crore in the then next financial year (2021-22). This has also been published in the white paper published by PTR. In 2022-23, the DMK government is planning to get a loan of Rs 90,116.52 crore. According to this, Finance Minister PTR did not get a loan of Rs 2 lakh crore to Tamil Nadu in a single year.
Union Govt Loan
According to the 2013-14 budget before BJP came to power, the total public debt of the Union government (excluding the debts of states and union territories) which was Rs.40,22,285.01 crore has increased to Rs.83,87,778.14 crore in 2021-22 under BJP rule. In the last 8 years, the public debt of the Union Government has increased by Rs.43 lakh crore.
The claim that Tamil Nadu Finance Minister PTR has taken 2 lakh crore loans in a single year is wrong information.
STATEMENT I – CONSOLIDATED FUND OF INDIA – CAPITAL ACCOUNT – RECEIPTS
STATEMENT I – CONSOLIDATED FUND OF INDIA – CAPITAL ACCOUNT – RECEIPTS 1