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While some programmes were applauded as having a social effect–such as the midday meal scheme, which Tamil Nadu pioneered before Jayalalithaa took office for the first time in 1991 and encouraged children to stay in school–they resulted in the fastest rising debt of any Indian state, as reported in November 2015.
Debt, per se, is not bad, if the state’s economic growth can sustain and service it. So, the key matrix is the debt as a percentage of the state’s gross domestic product (GSDP) or total economic output. Tamil Nadu’s debt-to-GSDP ratio at 20% is lower than the national average, an indication the state is growing despite the spike in debt.
(Sourced from agencies, feature image courtesy:oneindia.com)
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