FinMin PTR commits to increase TN’s contribution to national GDP by 15% – The New Indian Express
CHENNAI: The key priority of the new DMK government is to turn around the state’s financial situation, increase its contribution to national GDP from 10% to 14-15% and reduce the state’s interest payment, according to Tamil Nadu Finance and Minister of Human Resources Management Dr Palanivel Thiaga Rajan.
He was interacting with selected members of the Confederation of Indian Industry (CII) in Tamil Nadu on Saturday on a virtual platform, according to a statement. He said safeguarding micro, small and medium enterprises (MSMEs) and improving the ease of doing business (EoDB) would attract more investment and generate employment opportunities in the state. As an investor-friendly state, Tamil Nadu will approach new investors and increase public-private partnerships, he added.
Members of ICN, while interacting with the minister, suggested launching Fintech City in Tamil Nadu. They also wanted the state to help restructure loans to MSMEs, grant a 50% reduction in road tax to boost auto sales in the state, digitize vehicle registration to ensure l efficiency and transparency and supports MSMEs for easy access to finance. banks and FIs.
They also urged the Minister of Finance to provide political support to attract investment in the electronics and semiconductor industry, exclusive packages that allow investors to build units in Tier 2 and 3 cities of the State, to develop and retrain the young people of the State. in Industry 4.0 and other emerging technologies and to create a petrochemical industrial park in the state.
The minister assured the members of the CII that he would take the suggestions into account and discuss with the relevant ministries and do whatever is necessary. He thanked CII for organizing the session which provided a platform for industry leaders to share their ideas to make Tamil Nadu a leader in all spheres of development.