TN's fiscal health bad, alleges DMK chief

DMK chief M Karunanidhi today alleged that several development projects announced under Rule 110 in Tamil Nadu Assembly could not be completed due to "paucity" of financial resources.
"Out of the 236 projects announced this year under Rule 110 in Assembly, 231 have not been completed and the reason for it is lack of financial resources," Karunanidhi said here today in a statement.
Citing some media reports on the state's financial health, he alleged that "AIADMK men have the pride of making the state bankrupt within three-and-a-half years of assuming power."
Referring to a slew of suo moto announcements made in the Assembly by then Chief Minister Jayalalithtaa, the DMK chief said the value of such projects (Rs 1,27,500 crore) in the past four years equalled the revenue receipts of the state for a year.

"Is this (the way for) running a government or a mockery?" he asked and alleged that projects were announced for publicity without assessing the financial situation.
He also satirically asked if shutting of manufacturing units like Nokia here were "indices of industrial growth.