The Dravida Munnetra Kazhagam (DMK) President M.K. Stalin on Friday speaking about the Tamil Nadu state budget 2020-21, said that the budget lacked any long-term plans or programs.
While interacting with the media, the DMK president said the budget does not have any long-term plans, but it has put a burden on every citizen of the state of about Rs. 57,000 as debt.
Deputy Chief Minister O.Panneerselvam who also handles the finance portfolio presented the state budget on Friday. While presenting the state budget for the next fiscal, he stated a sum of Rs. 59,209.30 crore will be raised as net debt to finance the fiscal deficit.
After attending the budget session of the state assembly, MK Stalin took to his official Twitter handle and called the budget presented by Deputy Chief Minister O.Panneerselvam to be the worst budget ever.
MK Stalin wrote, "The 10th budget of the OPS is the worst budget for anyone. The budget of this regime is growing the fiscal deficit, lacks income generating measures. There are no foresight and development plans in this budget."
During the budget address, Deputy Chief minister O.Panneerselvam had stated that the net outstanding debt by the end of March 31, 2021, is expected to be at Rs.4,56,660.99 crore and debt to GSDP ratio will be 21.83 per cent, which is well within the norm of 25 per cent.
Putting forward a similar view as Stalin's, AMMK leader T.T.V.Dhinakaran compared the Tamil Nadu budget to a 'painting in the air.' MDMK leader Vaiko also stated that mounting up a huge debt and is the only achievement of the AIADMK government. Tamil Nadu Congress President K.S. Alagiri too criticised the budget as lacking in: long term plans, an announcement on job creation and others.