The Hindu on 2 January 2023 reported that the Government of Tamil Nadu is set to borrow ₹51,000 crore in the last quarter of the 2022-23 fiscal year. This amount is 45.7% higher than the amount borrowed in Q4 of last fiscal year.
According to the report, the state is planning to raise the amount by auctioning off bonds called State Development Loans.
Political commentator know for his ‘neutrality’ pointed out that Tamil Nadu government’s total borrowings in FY 2022-23 is expected to be ₹1 lakh crore and added that it is ₹13000 crore higher than the ₹87000 crore borrowed in the previous fiscal year. He said that the state goverment debt may cross ₹6.5 lakh crore.
“I remember media doing debates on how previous Govt was pushing the State into debt, how on each Tamil Nadu family there was a debt of 2.63 lakh. Now all have gone into deep coma. When State Govt debt was around ₹5 lakh crore,State was accused of borrowing irresponsibly. Now when debt is over ₹6 lakh crore State Govt is managing economy well? Propagandists?”, Sumanth Raman said in his tweet.
how on each Tamil Nadu family there was a debt of 2.63 lakh. Now all have gone into deep coma. When State Govt debt was around ₹5 lakh crore,State was accused of borrowing irresponsibly. Now when debt is over ₹6 lakh crore State Govt is managing economy well? Propagandists?🤦
— Sumanth Raman (@sumanthraman) January 2, 2023
Reacting to this, Finance Minister of the DMK government PTR Palanivel Thiagarajan, resorted to throwing barbs at Sumanth Raman calling him an ‘epitome of minuscule knowledge’.
This person is the epitome of “minuscule knowledge is a dangerous thing”🤦🏼♂️
Let’s give him a day to find the basics he should’ve known PRIOR to blabbering:
Deficit & Debt
Calendar & ActualIf he doesn’t correct himself, I’ll issue a press statement to expose his utter ignorance https://t.co/lpQcBdUOMq
— Dr P Thiaga Rajan (PTR) (@ptrmadurai) January 3, 2023
Sumanth Raman reacted sharply asking the DMK Minister to furnish details of the state government debt.
Abusing me is NOT going to change facts. What is the amount borrowed by the State in FY 22-23? What is total Govt.debt at the end of this FY vs last FY? If @the_hindu article I quoted from is incorrect then say so and put out the correct numbers. https://t.co/IEY6aDfBUh
— Sumanth Raman (@sumanthraman) January 3, 2023
Instead of coming back at him with the facts, the DMK Minister once again went about calling Sumanth Raman names.
Statement of fact: Your knowledge of State Finance, Debt Management, or Borrowing Limits vs. Actuals, is effectively zero
If you see that as abuse, I can't help it
Why do you feel the urge to expose your ignorance and potentially mislead the dimwits who'd actually believe you? https://t.co/tUzrltx7uH
— Dr P Thiaga Rajan (PTR) (@ptrmadurai) January 3, 2023
This is not the first time that Palanivel Thiagarajan has picked fight with Sumanth Raman.
A few months before the 2021 Assembly Elections, Palanivel Thiagarajan attacked Sumath C Raman on Twitter by calling him a ‘pseudo-intellectual who is given space that far exceeds any vestige of competence’. This tweet was later deleted.
Irked by this, Sumanth C Raman dissed the DMK leader with a stinging rebuttal stating that generations of wealth, dynastic wealth and foreign education did not give him the grace of public discourse.
In another incident, he called Sumanth Raman a ‘kiruku paya’ (foolish guy in Tamil) during an interview.
முதலமைச்சர் ஸ்டாலின் @mkstalin பெயரை கெடுக்கும் விதமாக பேசிய @ptrmadurai
பற்றி பொய்யுரை
Finance minister PTR’s disrespectful words on
Here is our Questions to him✌️PTR sir what is your reply for this?@sumanthraman @CTR_Nirmalkumar@YadavJeeva @BJPian2 @vijayapalanibjp pic.twitter.com/a8koJFlOey
— Manikandaprabhu Naidu. N🇮🇳 (@PrabhuN07551144) May 16, 2021
Not just Sumanth Raman, Palanivel Thiagarajan has resorted to abusing anyone who disagrees with him.
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