Monday, August 15, 2022

International Economists Join Stalin’s ‘Dream Team’; Time For 500 Bn TN GDP Push?

On Monday, the DMK administration, led by M K Stalin, revealed its intentions to revive Tamil Nadu’s economy and improve the state’s infrastructure. The government’s primary aim was to provide efficient administration and public services. To make this possible, the Right to Services Act would be passed, and the Lokayukta will be revived.

By 2026, the state government plans to begin implementing the third master plan for the Chennai Metropolitan Area. He also announced the commencement of Singara Chennai 2.0, an ambitious project to build new technology-based infrastructure in the state capital.

The government established a five-member economic advisory board to provide advice to the CM, with specific terms of purpose. Nobel laureate Prof Esther Duflo, former RBI governor Raghuram Rajan, former Union Government economic advisor Arvind Subramanian, Delhi School of Economics Prof Jean Dreze, and former Union Finance Secretary S Narayan make up the council and is expected to assist the administration in developing a speedy and inclusive growth strategy, as the state’s economy has slowed in last few years.

Later in the evening, the Tamil Nadu government released an official order announcing the new economic advisers to the Tamil Nadu chief minister. In addition, the new council will work with the state planning commission. The state’s priority is to expand its industrial economy both geographically and in terms of industrial sectors. Purohit stated that the authorities would take all required measures to assist additional firms in establishing bases and creating jobs in Tamil Nadu.

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