Chennai, June 16 -- Sounding alarm bells on the state's finances, Finance Minister N Marie Wilson on Tuesday blamed the previous DMK government of MK Stalin for landing Tamil Nadu in a vicious debt trap with the state's borrowing doubling up in the last five years, taking the cumulative debt burden touching Rs 13.18 lakh crore.
"Direct debt of the state had doubled to nearly Rs 10 lakh crore in the last five years. Together with off-budget borrowings and government guarantees and other liabilities, the overall financial burden has risen to an estimated Rs 13.18 lakh crore. This is coupled with an all-time high revenue deficit of Rs 78,324 crore," Wilson said, releasing a white paper on the state's finances before the media.
This revenue d...