TN finance minister vows reforms as debt hits Rs 5.7 trn this fiscal

This is an over 4-fold rise from Rs 1.32 trillion in 2013-14, and nearly 10-fold over Rs 60,170 cr in 2006-07

Tamil Nadu finance minister Palanivel Thiagarajan said on Monday that the state will kick off its reform drive starting from the upcoming Budget. Coming out with a White Paper on the state’s finances, he indicated that the state's overall debt has increased three-fold in the last ten years.

The state's estimated debt outstanding for the current financial year was Rs 5.7 trillion, up from Rs 1.32 trillion in 2012-13 and a mere Rs 60,170 crore in 2006-07. "We will do the reforms step by step. In the upcoming Budget, we will take some initial steps and major changes can be