Help make Tamil Nadu investment destination: CM M K Stalin to 5 experts

CHENNAI: Chief minister M K Stalin on Friday urged the members of the recently-formed CM Economic Advisory Council (CM-EAC) to suggest ways and means to make Tamil Nadu the best destination for industrial investments in south Asia and the supplier of human resources to the world.
The suggestions should enable other Indian states to consider Tamil Nadu as the benchmark for growth, he said. Routine reforms cannot achieve the objective. Only drastic reforms can and the state is ready for that, Stalin said.
"Growth should not be defined by economic development alone. But one that encompasses growth of the community along with social reforms," Stalin said, while addressing the first meeting of the CM-EAC, virtually. The five-member council formed on June 21, 2021 includes Nobel laureate Esther Duflo, economist John Dreze, former RBI governor Raghuram Rajan, former chief economic adviser to the Centre Arvind Subramanian and retired civil servant S Narayan.
"Ever since the announcement of the formation of such a council, I have received lots of accolades for enabling Tamil Nadu to reach out to the globe. All the appreciation should be used for the upliftment of the people, economic growth of the state, employment generation and increasing the per capita income," Stalin said.
"An inclusive and economic growth is the dream. But that is not easy to achieve, especially given the reality and our vision. Tamil Nadu is reeling under the burden of over 5 lakh crore (debt) and the state enterprises with an additional 2 lakh crore (debt). While the source for revenue is limited to a few sectors, the Centre has grabbed the rights of the states for most taxations. We cannot trust on tax revenues," Stalin said. He said the state is blessed with natural resources, basic infrastructure, human resources and social responsibility. It is in a position to exploit its resources to achieve development. "Show us the way. We want to grow with the base the state has," Stalin said.