Fixing the financial position of the State and setting it in the right path; increasing the State’s contribution to the National GDP from 10 per cent to 14-15 per cent, and reducing the interest payment of the State are the top priorities for the present government, said State Finance Minister P Thiaga Rajan in an interaction with members of CII Tamil Nadu.
“Safeguarding MSMEs and improving ease-of-doing business would attract more investment and generate employment opportunities in the State,” said Thiaga Rajan. “Being an investor friendly State, Tamil Nadu will approach new investors and increase the public private partnerships ventures in the State.”
Tamil Nadu government’s approach would be more inclusive in taking all the policy decisions. “The State has to take its first position in the growth rate at country level, for which the State government will initiate more proactive measures,” he added.
Suggestion
During the interaction, one of the suggestions by the CII was setting up a FinTech city in the State, said a release from CII. CK Ranganathan, Chairman, CII Southern Region, thanked the State government for its proactive policies to ensure business continuity in this challenging times.
Some of the other suggestions by senior members of CII to the minster includes government to help in restructuring of MSME loans; 50 per cent reduction in road tax to give a boost to automobile sales in the State; digitalisation of vehicle registration in order to ensure efficiency and transparency; government to support MSMEs for easy access to finance from banks and FIs; to provide policy support to attract investment in the electronics and semi-conductors industry and exclusive packages for investors to set up units in Tier 2 and 3 cities in the State.
The members also urged skilling and reskilling the youth of the State in Industry 4.0 and other emerging technologies and set up petrochemical industrial park in the State.