The TVK Government, which seeks to project lower borrowings in the first half of this fiscal as an achievement, must explain how the need for such borrowing decreased, TN’s former finance minister and DMK leader Thangam Thennarasu said on Tuesday.
“How much of the total allocation for capital expenditure in the current financial year has the TVK government actually spent during the April–September period? How much has been invested in new infrastructure projects? Additionally, what is the total amount currently outstanding — payments yet to be released by the TVK government — for projects that were initiated and implemented under the DMK administration? Will the government release these details?,” Thennarasu asked in a social media post on X.
His comments come in response to reports that under the TVK Government, Tamil Nadu’s borrowings through government bonds fell by 21 per cent in the first half of the current fiscal year, compared to the corresponding period last year. This has been hailed by TVK and its supporters as evidence of improved financial management.
The former finance minister said the new TN Government’s borrowing requirement has decreased mainly because of slowing capital expenditure. “Tenders worth tens of thousands of crores have been cancelled. Due to the failure to carry out development works, roads are in poor condition, and construction projects remain incomplete,” he said.
The TVK government must provide full transparency and disclose to the people the details of the capital expenditure actually incurred, as well as the outstanding payments owed for completed works, he said.
Thennarasu also pointed to the rear-loaded nature of the borrowings. “While the TVK government claims a reduction in borrowing for the first half of the year, it now plans to borrow ₹48,000 crore in the October–December quarter alone. Isn’t this more than double the ₹23,500 crore raised in the previous quarter,” he asked.
Published on October 20, 2026
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