Chennai: Responding to queries by reporters at the Madurai airport on Thursday, the Minister also hit out at the earlier government, saying it was necessary to raise tax rates since the erstwhile regime left the government bankrupt. The Finance Minister further said that the State’s aim was to have transparent governance and the people should understand and welcome it. He alleged that former Chief Minister J Jayalalithaa and other Ministers made nearly 400 announcements under the 110 Rule and none could predict whether the announcements would be forthcoming. The Minister tried drawing a parallel with the reign of MK Karunanidhi, saying, 100 per cent of the loans taken by the government were spent on investments, but Jayalalithaa’s government was tainted by corruption under the guise of ‘Vision 2023’ through the Infrastructure Management Company. Later, Thiaga Rajan, along with P Moorthy, Commercial Taxes Minister and Madurai Collector S Aneesh Sekhar, attended a programme held at Lady Doak College, where Madurai-based Olympian Revathy Veeramani was honoured with a cheque for Rs1 lakh.