Overview
- Vijay, who took office Monday, said a White Paper will lay out the state’s finances for 2021–2026.
- He alleged the treasury is empty and put debt near ₹10 lakh crore, saying the document will provide details.
- Former chief minister M. K. Stalin rejected that view, saying funds exist, debt stays within legal limits, and the budget already showed the fiscal position.
- RBI data put Tamil Nadu’s liabilities at ₹9.56 lakh crore at the end of FY25 with a 30.6% debt-to-GSDP ratio, a yardstick that compares debt to the size of the economy.
- A new pledge of 200 free electricity units every two months, estimated at ₹1,730 crore a year, adds to pressure from salaries, pensions, and interest that already consume most revenue, and the White Paper is expected to sharpen the political fight over what to fund next.