CHENNAI: With Tamil Nadu’s GST revenue growing by just 3% in October, compared with double-digit growth in neighbouring states, former finance minister Thangam Thennarasu on Monday flagged signs of economic stagnation under the TVK government and called for an urgent push to boost domestic production.In a post on X, Thennarasu cited GST growth figures for October to highlight the gap. Kerala recorded 23% growth, Andhra Pradesh 24%, Karnataka 18% and Telangana 14%, while Tamil Nadu managed just 3%.Former chief minister and DMK president M K Stalin also raised concerns over the state’s economic performance, claiming that Tamil Nadu’s GST growth under the TVK government was below the national average. In a separate criticism of the government, he alleged that Korean investments worth Rs 1,614 crore, which were intended for Tamil Nadu, had shifted to Andhra Pradesh because of the state government’s negligence.Stalin also alleged that Guidance Tamil Nadu, the state agency responsible for attracting investments, had been sidelined because of what he described as the personal egos of individuals in the present administration. He accused Chief Minister C Joseph Vijay of focusing on campaigning in bypoll constituencies instead of addressing the state’s economic concerns.Thennarasu, meanwhile, said taxes collected on certain key goods imported into the state had contributed to a modest rise in overall tax revenue, even as revenue from the state’s own production continued to decline. He described this as an indication of wider economic stagnation.
