Chennai: Former finance minister Thangam Thennarasu on Thursday accused chief minister C Joseph Vijay-led TVK govt of mismanaging Tamil Nadu’s economy and alleged there was a decline in GST collections for three consecutive months.“During DMK regime, Tamil Nadu’s financial position, which outshone other states in the country, achieved a remarkable two-digit growth in GST collections. Now, GST collections are declining continuously for three months, registering a drop of up to -5%,’’ Thennarasu said in a social media post.He said industrial production had stagnated and consumption had shrunk in the state even as other states continued to register industrial growth. The former minister questioned the govt’s handling of industrial investments and financial management.`“While other states in the country are witnessing sustained industrial growth, the fact that production has stalled and consumption is contracting only in Tamil Nadu is a clear indicator of administrative failure,’’ he said.He contrasted the current economic plight to the situation during DMK rule and said DMK’s foresighted approach to investment and financial management had helped drive growth.“What is the answer from the govt for this economic deterioration,” Thennarasu asked. He attached a bar chart, indicating the GST revenue growth of the major states to drive home his point.
