High level talks on for Rs 25,000 crore investment in Tamil Nadu: CM Edappadi Palaniswami

January 13
01:22 2018

Tamil Nadu Chief Minister Edappadi K Palaniswami on Friday said high level talks were on with 15 companies for attracting investment to the tune of about Rs 25,000 crore.

Winding up the discussion in the state assembly on the motion of thanks to the Governor for his address, he said such investment initiatives will be in place soon.

As a mark of the trust reposed by large Indian companies and multi-national firms in Tamil Nadu, he listed projects that will soon be operational.

He said such projects were being finalised.

A Rs 5,000 crore ‘Ceat’ tyre manufacturing facility and an extension project of Hyundai with an investment of Rs 5,000 crore besides a French company’s car assembly-cum-Research and Development unit with an investment of Rs 3000 crore were among such projects on the pipeline, he said.

The Business Facilitation Bill, to replace an ordinance in this regard and later adopted in the assembly, will further accelarate the investments, he noted.

Following the success of a Global Investors Meet in 2015, he said arrangements were being made to hold a similar event towards the year end.

The Chief Minister said people will never accept that Tamil Nadu government was being subservient to the Centre.

DMK has been targeting the ruling AIADMK, saying it was being subservient to the Centre.

Palaniswami listed his government taking a stand against the Centre on issues like hydro carbon projects in Tamil Nadu and against shifting of Central government institutions from the State. He also cited opposition to criminalisation of triple talaq, and the revamp of the Indian Medical Council.

On the fiscal front, he said the government was managing well the fiscal deficit and the debt-to-GSDP ratio which is the yardstick for good fiscal management.

Tackling the revenue deficit, salary hike has been given for government employees, he said.

For the 2017-18 budget estimates, fiscal deficit is estimated to be at 2.79 per cent well within the 3 per cent threshold, he said.

However, in some states like Madhya Pradesh it was 3.49 per cent as the Centre’s fiscal deficit is estimated to be at 3.20 per cent.

Hence, Tamil Nadu was managing its fiscal deficit comparatively well when compared to the Centre and other states, he claimed.

The first Supplementary Estimates (Statement of Expenditure) for 2017-18 for Rs 6,522.03 crore was tabled and adopted by a voice vote.

On local body polls in the state, he said based on recommendations of the Delimitation Commission on local bodies, the elections will soon be held.

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