Tamil Nadu governor Banwarilal Purohit
By Julie Mariappan | TNN
CHENNAI: Tamil Nadu government will constitute an "Economic advisory council to the chief minister" with leading economic experts from all over the world as its members.
The government assured that a white paper detailing the true state of Tamil Nadu's finances will be released in July.
Addressing the state legislative assembly, governor Banwarilal Purohit said the council would consist of Nobel laureate Esther Duflo of the Massachusetts Institute of Technology (MIT), USA, former Reserve Bank of India governor Raghuram Rajan, former chief economic advisor to the central government Dr Arvind Subramanian, development economist Jean Dreze and former Union finance secretary Dr S Narayan.
"Based on the recommendations of this council, the government will revitalise the state's economy and ensure that the benefits of economic growth reach all segments of society," Purohit said.
The focus of the state will be on to further diversify the industrial base of the districts and to ensure technological upgradation.
The governor also said an expert committee consisting of industrialists, banking and financial experts and government officials will be constituted to formulate the schemes for revival of MSMEs.
On the power front, Purihit said the state-run power utilities "Tangedco and Tantransco were facing severe financial crisis due to mismanagement in the recent years."
A detailed strategic study of the finances and governance structure of the utilities will be carried out.
The state government also announced that necessary steps would be taken to hold local body elections after the intensity of the Covid pandemic subsided and after ensuring that the delimitation exercise undertaken previously was appropriate in all respects.
The government provided Rs 10,068 crore towards livelihood assistance after assumption of office.