Transcription
This white paper is a hollow statement, and the true intention of this white paper is a tactic by the current ruling government to cover up its inability. It is an escapism, where they are unable to fulfill the election promises made to the people, spreading their hands and expressing their helplessness. Realizing that they cannot fulfill the promises they made, and to escape from the public's anger, they are trying to shift the blame onto the previous Dravida Munnetra Kazhagam government. I have clearly expressed my opinion that this hollow statement released in the name of a white paper is an attempt to escape by blaming the previous government.
For example, if we look at it, releasing this white paper is not the first time in Tamil Nadu regarding financial matters. White papers have been released many times before. This is the third time they have released one. In the year 2001, when the then Chief Minister Amma took charge, she released a white paper. In 2021, when the Kazhagam took charge, the then Finance Minister PTR released a financial white paper. Now the current government has released this white paper for the third time.
Even though a white paper has been released three times, we must first look at the difference between these three white papers. If you look at the white paper released by Amma immediately after coming to power in 2001, they took into account the preceding 10-year period. They presented the financial situation of Tamil Nadu for a 10-year period. From 1991 to 2001, their rule was from 1991 to 1996. From 1996 to 2001 was the rule of the Kazhagam. So, the current Finance Minister also had a role in the release of that financial white paper. When our Kazhagam came to power in 2021, we took 15 years into account and presented the financial statement for 15 years in that white paper. This was from the rule of the Kazhagam in 2006 and 2011 under the leadership of Kalaignar, and continuing through the end of the rule of Edappadi in 2016 and 2021. Thus, taking the period from 2006 to the beginning of 2021, approximately 15 years, we presented it in our rule.
However, now, when the current government came to power in 2026, the period they are taking into account is only the last five years of the DMK rule. What is the reason for this? What is the reason for taking only the DMK rule and not the previous governments? What is the reason for hiding the previous governments? What is the hesitation in talking about the financial matters of those governments? Is it possible that this white paper has not taken into account the periods of those governments to protect someone? Is it an attempt to protect someone, or as they themselves said, have they reformed themselves? Is it an attempt to see if there is anything to gain from them? Is it for this reason that they have only taken the DMK rule period into account in this white paper? Whose favor are they expecting, and to whom have they provided an explanation? I wish to leave it to your consideration as to whose protection is being attempted.
As I said earlier, the sole purpose of this white paper is to escape from the people by saying something. They have made wrong or false promises to the people, without knowing the depth, with great shock and with a lot of fanfare, and having gained power by deceiving the people, they are now releasing this statement to escape from it. I said this.
I wish to make a comparison. In the year 2021, when the Dravida Munnetra Kazhagam released this white paper, we stated in the executive summary itself, "This report is not an attempt to dilute the commitment given to the public." That is, we clearly stated that the Dravida Munnetra Kazhagam did not intend to dilute the election promises made before coming to power in 2021, nor to say that they could not be fulfilled, nor to undertake an attempt for that, nor to use the financial situation as an excuse to say that they could not do so. We stated this unequivocally. The basis of that was that, regardless of the financial situation, we would fulfill the promises we made.
However, now in 2026, what does this white paper say? It says, "The main objective of this report is to inform the public that the fiscal space available to take new projects is very limited." That is, they are saying that the fiscal space, the financial resources available to undertake new projects in the current situation, is scarce. They are saying that they have difficulty in fulfilling new projects, that they cannot do it. If so, this government has immediately spread its hands, saying that they cannot fulfill anything promised in the election manifesto. If you read both these reports, you will see where is the Chief Minister who said that he would fulfill the promises made to the people, despite any financial difficulties, and where is this government that is trying to escape by saying that the financial difficulties are like this, that our fiscal space is limited, that it is minimal. I wish to bring to the attention of the public and the media the intention and purpose of this government's attempt to escape.
I also wish to inform you of one more thing. Generally, when do we release a white paper? We release it before the budget. But they have released it before the Governor's address. The reason is that tomorrow, in the Governor's address, they have to talk about new schemes. When talking about the policies for the promises made, they have to mention certain schemes. Since there is no opportunity to talk about new schemes, it is like the sound of the bell preceding the elephant. I believe that this government has released this white paper before the Governor's address, implicitly telling us, "Do not expect anything from us tomorrow."
Furthermore, in this white paper, the Finance Minister has stated some things as usual. These are the same old tunes, and I have explained them many times in the Assembly. This time, they are saying one thing. They say that after this government's term ends, there will be a debt of 10 lakh crore. They claim that this 10 lakh crore was 4.8 lakh crore during the period they took office before. They have doubled it in these five years. This is an accusation they are making.
Generally, it is important to look at the nature of financial administration and the situation in Tamil Nadu, and what has been happening historically. In the year 2006-2007, during Kalaignar's rule, how much debt did he inherit from his predecessors? He inherited a debt of 57,457 crore rupees. In the period 2011-2012, when Amma Jayalalithaa came to power, this debt had doubled from 57,000 to 1,35,000 crore. So, the debt had doubled even then. In 2016-2017, the debt had risen to 2,11,066 crore. Again, it had almost doubled from over a lakh crore. In 2021-2022, when Edappadi came to power, the debt was 4,85,000 crore. When we came to power at the end of that rule, we inherited it. So, it had risen to 4,85,000 crore, which is 2.7 times.
If it has now reached 10 lakh crore, historically, the magnitude of this debt has been continuous. It is not as if this debt has doubled only during the five years of the Dravida Munnetra Kazhagam rule, from 4 lakh crore to 4.8 lakh crore. In Tamil Nadu, as I have stated with statistics, this pattern of doubling will continue. The debt will come in this pattern.
I will say even more. I say this as a challenge at this press conference. If the current government completes its five years and faces the next election, I say with certainty that their debt will rise to 20 lakh crore by the end of their five-year term. I wish to state this as a challenge to you. I also state with certainty that they cannot avoid it.
I will say one more thing. They are writing page after page, saying that they have borrowed money. I say this as a challenge to this government, to this Finance Ministry. If you can prove that you have borrowed less each year during your rule than the average debt we borrowed each year during the last five years of the Dravida Munnetra Kazhagam rule, I will resign from my position. I say this as a challenge. If you can prove that you have borrowed less each year during your five-year rule than the average debt we borrowed during our five-year rule, and if you have managed to reduce the debt, and if you have implemented the schemes that are running well, as mentioned even in your white paper, and if you have fulfilled the promises you made, and if you have demonstrated your excellent financial management and fiscal prudence, and if you have undertaken efficient financial administration, and if you have done all this and proved that you have borrowed less each year than the average debt we borrowed, then I will resign from my position. I wish to say this as a challenge to this government.
Another thing is that they have also spoken about interest payments. They have compared it with Gujarat. In Gujarat, there are no welfare schemes. They do not provide large-scale schemes like the women's rights payment, the Vidiyal Payanam, the breakfast scheme, or pension schemes for government employees. They have not provided schemes like Pudhumai Penn, or the Tamil Pudhalvan scheme for our children. They are not doing such welfare schemes in Gujarat. Because we are doing all these welfare schemes, our deficit spending is always high. They have mentioned there that you have spent too much and have done nothing in capex.
When you talk about capital expenditure, I want to ask him. You have made a set of promises in your election manifesto. What are those promises? You said you would give six cylinders, you said you would give 500 for women's rights payment, you said you would give financial assistance to the unemployed, you said you would waive cooperative loans, you said you would provide 200 units of electricity free of charge. Similarly, you said you would increase the pension for OAP recipients and differently-abled friends. Do all these things you have promised come under capital expenditure? Have you ever spoken about capital expenditure in your promises? No.
Why, even the Singapenn scheme that you have started with great fanfare, is the expenditure on that scheme coming under capital expenditure? We welcome the expansion of the breakfast scheme. Our honorable Chief Minister, Anna Thalapathy, was the first to introduce the breakfast scheme in India. We are expanding that scheme. So, the money for that scheme will come under capital expenditure.
So, what have you done in capital expenditure? Where are the projects with high capital expenditure? You are stopping the projects that were initiated during the Dravida Munnetra Kazhagam rule. You said to stop the elevated highway in ECR. You said to stop the Parandur airport. Similarly, you have said to stop all the highway PWD works that are going on in Tamil Nadu. When you say that you have not given importance to capital expenditure in the white paper, after telling them to stop all projects where capital expenditure is involved, I wish to raise the question as to how that is appropriate.
Similarly, regarding revenue deficit, you say that the revenue deficit is structural. Even before the COVID-19 pandemic, the revenue deficit was high. It was at a very high level during the previous AIADMK rule. It is only after the DMK came to power that we are reducing the revenue deficit. I told you the trend of the revenue deficit. It was reduced to 45,000 crore. In 2020-21, it was 62,325 crore. When our Kazhagam government started in 2021-22, it came down to 45,000 crore. In 2021, your revenue deficit ratio to GSDP was 3.486%. From 3.486%, it has been continuously reduced to 1.47% in 2024-25.
Well, in 2024-25, it was 45,000 crore. You have stated that it has reached 78,000 crore in the last year. What is the reason for it reaching 78,000 crore? You should have explained that. If you had explained that, you should have said what problems arose from the central government, what challenges the Dravida Munnetra Kazhagam government faced, and that this is the reason. You have not said a single word about the central government. What is the maximum reason for financial deficits? What was the most important reason for the revenue deficit in the last year? What was the impact of the GST rate nationalization? How has that impact affected everything? You should have said something, but you haven't.
But I want to tell you, why did that 78,000 crore happen? Because of the central government's GST...
The rationalization of GST in this current financial year, which we opposed, was opposed by many states including Karnataka, Tamil Nadu, Telangana, and Kerala. We strongly opposed it. Today, due to that rationalization, the revenue is decreasing by 11,709 crore rupees. Compensation fund to be given to TANGEDCO is 16,507 crore rupees. From the reconciliation scheme coming from the Union Government, 3,548 crore rupees were withheld. Money to come from Jal Jeevan Mission is 3,112 crore rupees. Grant from the Finance Commission is 2,246 crore rupees. GRF is 3,087 crore rupees. Our share from the devolution of central taxes is 1,200 crore rupees. In total, in this alone, we have incurred a huge loss of 41,411 crore rupees last year due to the challenges posed by the Union Government and the reduction in funds provided by them. Have they spoken about this anywhere? They have conveniently omitted it. They are trying to create an impression among the people of Tamil Nadu, a false accusation, that this 78,000 crore rupees is due to our financial mismanagement, that we have not managed finances properly, and that is why this deficit has occurred. I would humbly request those in the finance department to please have basic intellectual honesty. Is financial mismanagement the reason for this 78,000 crore rupees revenue deficit? Have you not mentioned all these reasons that I have listed for 41,000 crore rupees? That is why I say. You yourself are saying this. You say there are leakages. We are plugging all these leakages. Very happy, please do it. Find out where the leakages are. You are saying there are leakages in our GST and other areas. You are mentioning two or three such things. If you want to say more, please do. What is happening with these leakages now? At that time, he was even our City Commissioner. If he had thought then, he would have had the opportunity to fix those leakages even then. Nothing is lost even now. Do it well. After plugging all these leakages and doing all this, when you present the revised budget, tell us how much you have reached in your revised figures. I would like to inform you that I am also eager to know that. Similarly, SOTR (State Own Tax Revenue) versus GSTP is said to have collapsed. They came from 5.95% to 5.45%. They said leakages are the reason for this too. I have replied to that. It had decreased during the AIADMK regime. In 2011, when Kalaignar left office, it was 7.9%. In 2021, when Edappadi left office, it came down from 7.9% to 5.46%. In our regime, the SOTR ratio was 6.33%. However, what is the reason for it coming down to 5.45% as you are saying now? I have already told you about the problems arising from GST rationalization. The Union Government has brought about major changes in GST tax sharing. When they bring about such changes, they expected a certain point to be reached in goods. But the point expected by the Union Government did not materialize. Therefore, there has been a significant decline in the sale of goods, which has affected our GST taxation. As I said earlier, this impact is not only on Tamil Nadu but also on Karnataka, Gujarat, and everywhere. So, there is nothing major here. They said it is some big open secret. There is no such open secret here. This is an issue arising from GST rationalization. I want to ask you why you have not taken that into account. Similarly, committed expenditure. You have said that you have not done it. They say this has cut down development expenditure. Okay, committed expenditure, we are saying, we have committed. We have committed to the women's rights scheme. We have committed to free bus travel for women. You have cut down your other development expenditures by committed expenditure. Why don't you stop all these committed expenditures? Stop the women's rights scheme. Stop it and see. Stop the free travel scheme and see. After stopping all this, will you make an announcement tomorrow that we are using all this money for development? I want to ask you. Similarly, you have spoken about TANJEDCO and Transport Corporation. You have said 3 lakh crore debt. There is a big list for this too. In 2011, during the Dravida Munnetra Kazhagam rule, the debt was 8,844 crore rupees. In 2021, the transport debt was 39,884 crore rupees. In TNSTC, the debt we left behind was 3,000 crore rupees. When we came back to power after the AIADMK period ended, it had become 1,35,000 crore rupees in debt. The fundamental reason for this debt is the free electricity given to farmers, as well as free bus passes and free travel. You have also announced that everyone in Tamil Nadu can travel everywhere. We will provide one unit of free electricity. You have said that everyone can travel freely throughout Tamil Nadu. If you also fulfill all these schemes and tell us how much you have reduced the debt in these public sector undertakings, it will be unnecessary. I would like to convey that at this time. Therefore, what I want to generally tell you is only one thing. Regarding this government, I have raised my explanations, clarifications, and questions on some important points, about six or seven points that they have raised. To fulfill all your schemes, you will also need a lot of money. My average estimate is that you will need approximately one lakh crore rupees. As I said earlier, even if you had spent 50,000 crore rupees on capital expenditure per year, your debt would still reach 20 lakh crore rupees in the end. You will also see that scenario in Tamil Nadu during your rule. Therefore, this debt is something I have been saying continuously. Those who are in basic public finance should see debt as a tool of finance. There are so many welfare schemes, so many beneficial schemes. It is not important for a government to borrow money for all of them. The important thing is how you service the borrowed debt, how you repay it, and what percentage of debt you maintain within the GSTP. That is what you should look at, not the absolute number. I have said this many times, and I emphasize it again. Therefore, any government borrows money for the welfare of the public, for their development. We are doing this for deficit funding, for the welfare schemes of the people. You have also announced that. To fulfill what you have announced, you will also need that money. We will wait and see how you fulfill them. However, if you look at it in the same way, even though your revenues have increased by 8% as you say, in the coming period, if you look at this year alone, I estimate that you should get approximately 16,000 crore rupees additionally. Therefore, with all this, you are saying that we cannot do all this now, that fiscal space is limited, minimal, or low. This shows your helplessness. You have released this white paper today to tell the people that we are in a situation where we cannot fulfill these schemes. They say here that there is leakage here and leakage there, that it is an open secret. Now they have thrown up their hands. Their throwing up their hands is the wide open secret of the government, their helplessness is the wide open secret of the government. Can we conclude that the election promises cannot be fulfilled based on the white paper released yesterday? If they cannot be fulfilled, how much public outcry do you think will occur? The public is certainly watching. You promised to completely waive cooperative crop loans. Then you said only 7,000 rupees. Farmers in the Delta region and across Tamil Nadu were agitated. There was a protest. Now you have said 75,000 rupees, which is also not enough, isn't it? You said you would fulfill your promise. Today, in Tamil Nadu, like a single grain of rice representing a pot of rice, all the farmers in Tamil Nadu are up in arms regarding cooperative loans. You yourself have given it. We are not saying it. You have stated it as your election promise. You said you would do it. Furthermore, are all these details you have mentioned only after you came to power? No, in the interim budget presented by us, we have stated all the details. If you look at it, it is even more detailed. Everything is transparent, everything is in black and white. We have already provided you with the financial statement. There is no need to hide anything, nor is there any necessity to hide it. What is the total revenue of the country, what is your debt, what is your fiscal deficit, what is your revenue deficit? We have explained all of this to you. In it, we have explained how we have reduced our financial management. By how much we have reduced the fiscal deficit each year, how the revenue deficit has been reduced. We have explained in each paragraph the reasons for the revenue deficit, why the revenue deficit has increased in such absolute numbers. After knowing everything, you are releasing the election manifesto. Therefore, you have already taken everything into cognizance, everything into account. After that, you have given your election manifesto and promises. Therefore, you have the responsibility to fulfill that promise. To escape from that, this white paper is released under the guise of a white paper as a pure escapism. I say, when the Dravida Munnetra Kazhagam came to power, there was a similar fiscal constraint. We said so, but we also said that we would fulfill our commitments 100%. We have fulfilled the promises made. We can say with pride that the Dravida Munnetra Kazhagam has fulfilled them. But you, from the very first day, within 15-20 days, said you would prepare and then immediately said that we cannot fulfill this, implying that there is no fiscal space to fulfill these schemes. If you start saying this now, it shows that you are not prepared to fulfill them. How can you say that no effort has been made? He says there is no problem in spending on schemes. He says it is our state's pride. But he says no effort has been made to increase revenue. On what basis does he say that efforts have not been made to increase revenue? How much have our investments come? You say 10 lakh crore debt, but it is 12 lakh crore. Our investments have come to 12 lakh crore rupees. It is because we have received money that we are spending so much. Based on the money we receive, how much is coming from our SOTR? Also, what is coming to us from SOTR? Only 25%. 75% of the money should come from the Union Government. The money coming from them is not coming to us. Revenue is decreasing. To say more, even what is coming from the Finance Commission this year is being reduced. I have continuously told you about all the consequences. I have told you how much money that should come to us is not coming. Despite all this, have we stopped any of the welfare schemes we announced? The women's rights scheme, which was for 1 crore 15 lakh people, we have extended it to 1 crore 31 lakh people. We gave the Pongal gift amount. We have not reduced any of the announced promises. We have done everything within the limits of financial management. You also do it, sir. I will mention some departments. For example, in the mining department, there has been a huge loss, sir. I said it, sir. I am saying it. You are talking about leakage. You are mentioning four or five departments. You tell me. How is the revenue from SOTR? Regarding revenue, in total, from mineral resources. Like a single grain of rice representing a pot of rice, you yourself take GST. He says it's not coming in four areas, not in GST. I am saying the same thing. You yourself were the GST Commissioner. If there was leakage, you could have stopped it. Why is that opportunity not there? What are the factors? That is why I say this. You are saying now that we are going to do all this. You say you are going to increase your SOTR. Fine, no one will blame you for that. When you present your revised budget, we will see the figure. I am waiting for that figure. Let's see how it becomes one lakh crore rupees. Sir, what I am saying is, sir, I will say it as it is. You say 10 lakh crore rupees. This is doubling. Historically, if you look, that is why I told you. Historically, if you look, this money, from 57,000 crore rupees, when that person comes back, it becomes one lakh crore rupees, and it becomes one lakh crore rupees. The percentage increases to 2.7 again. It was 4.85, and it comes to 4.8. I am still saying this. You should state your schemes. The schemes we have given, you said yesterday that these are good schemes. A friend said well. He said they did not borrow without permission. He also said that many good schemes are being implemented with the borrowed money. Say that you are implementing good schemes, and we welcome it. The schemes we brought are good schemes, as we have said today. To say more, we are talking about such a big report, sir. You say double digits. Neighboring states are also saying it. I ask, why has it become double digits? We have reached 11.9%, haven't we? Why are you not stating that percentage? After so much consensus, a friend asked, what action are you taking to increase revenue? Only if you take action to increase revenue will your overall economy... How has the economy become double digits today? We are saying we are the second largest economy today. We are saying that more women are working. What is the reason for all this? When we go to the financial review meeting, the Chief Minister proudly states the overall financial situation of Tamil Nadu. What is the reason for that? Hasn't all this been created based on financial management? Why is nothing said about that? So, what we are saying is that the welfare schemes that are already in practice and the promises you have made today, if you fulfill all of them and then give a report, it will be excellent, sir. The administration has made policy decisions that have led to administrative breakdown. But specifically, it is said that it cannot be brought through this finance for ten years. That's what I'm saying, sir. You have already abandoned it. You have taken it as abandoned. Immediately, you said there are no new schemes. Why are you saying this now? You are saying that we cannot fulfill the promises you have made. You came to power saying you would fulfill these schemes. Are these fiscal figures, the fiscal position of the state, new today? After we finished our administration, it is included as part of my speech in the interim budget presented by the Finance Minister. Therefore, no figure in Tamil Nadu's financial administration is hidden, nor is that figure masked. Everything is already on paper. You are saying all this after looking at it. So, after looking at all that, you have promised the people that you will do it. Try to fulfill it. If you cannot fulfill it, to cover up your helplessness, I say again at the end of this press meet. This government is trying to hide its helplessness by taking refuge behind this white paper. Sir, just one question. The minister said yesterday that the corrupt government is prosperous. He said the government is prosperous.
The rationalization of GST in this current financial year, which we opposed, was opposed by many states including Karnataka, Tamil Nadu, Telangana, and Kerala. We strongly opposed it. Today, due to that rationalization, the revenue is decreasing by 11,709 crore rupees.
Compensation fund to be given to TANGEDCO is 16,507 crore rupees. From the reconciliation scheme coming from the Union Government, 3,548 crore rupees were withheld. Money to come from Jal Jeevan Mission is 3,112 crore rupees. Grant from the Finance Commission is 2,246 crore rupees. GRF is 3,087 crore rupees. Our share from the devolution of central taxes is 1,200 crore rupees. In total, in this alone, we have incurred a huge loss of 41,411 crore rupees last year due to the challenges posed by the Union Government and the reduction in funds provided by them.
Have they spoken about this anywhere? They have conveniently omitted it. They are trying to create an impression among the people of Tamil Nadu, a false accusation, that this 78,000 crore rupees is due to our financial mismanagement, that we have not managed finances properly, and that is why this deficit has occurred. I would humbly request those in the finance department to please have basic intellectual honesty. Is financial mismanagement the reason for this 78,000 crore rupees revenue deficit? Have you not mentioned all these reasons that I have listed for 41,000 crore rupees?
That is why I say. You yourself are saying this. You say there are leakages. We are plugging all these leakages. Very happy, please do it. Find out where the leakages are. You are saying there are leakages in our GST and other areas. You are mentioning two or three such things. If you want to say more, please do. What is happening with these leakages now? At that time, he was even our City Commissioner. If he had thought then, he would have had the opportunity to fix those leakages even then. Nothing is lost even now. Do it well. After plugging all these leakages and doing all this, when you present the revised budget, tell us how much you have reached in your revised figures. I would like to inform you that I am also eager to know that.
Similarly, SOTR (State Own Tax Revenue) versus GSTP is said to have collapsed. They came from 5.95% to 5.45%. They said leakages are the reason for this too. I have replied to that. It had decreased during the AIADMK regime. In 2011, when Kalaignar left office, it was 7.9%. In 2021, when Edappadi left office, it came down from 7.9% to 5.46%. In our regime, the SOTR ratio was 6.33%. However, what is the reason for it coming down to 5.45% as you are saying now? I have already told you about the problems arising from GST rationalization. The Union Government has brought about major changes in GST tax sharing. When they bring about such changes, they expected a certain point to be reached in goods. But the point expected by the Union Government did not materialize. Therefore, there has been a significant decline in the sale of goods, which has affected our GST taxation. As I said earlier, this impact is not only on Tamil Nadu but also on Karnataka, Gujarat, and everywhere. So, there is nothing major here. They said it is some big open secret. There is no such open secret here. This is an issue arising from GST rationalization. I want to ask you why you have not taken that into account.
Similarly, committed expenditure. You have said that you have not done it. They say this has cut down development expenditure. Okay, committed expenditure, we are saying, we have committed. We have committed to the women's rights scheme. We have committed to free bus travel for women. You have cut down your other development expenditures by committed expenditure. Why don't you stop all these committed expenditures? Stop the women's rights scheme. Stop it and see. Stop the free travel scheme and see. After stopping all this, will you make an announcement tomorrow that we are using all this money for development? I want to ask you.
Similarly, you have spoken about TANJEDCO and Transport Corporation. You have said 3 lakh crore debt. There is a big list for this too. In 2011, during the Dravida Munnetra Kazhagam rule, the debt was 8,844 crore rupees. In 2021, the transport debt was 39,884 crore rupees. In TNSTC, the debt we left behind was 3,000 crore rupees. When we came back to power after the AIADMK period ended, it had become 1,35,000 crore rupees in debt. The fundamental reason for this debt is the free electricity given to farmers, as well as free bus passes and free travel. You have also announced that everyone in Tamil Nadu can travel everywhere. We will provide one unit of free electricity. You have said that everyone can travel freely throughout Tamil Nadu. If you also fulfill all these schemes and tell us how much you have reduced the debt in these public sector undertakings, it will be unnecessary. I would like to convey that at this time.
Therefore, what I want to generally tell you is only one thing. Regarding this government, I have raised my explanations, clarifications, and questions on some important points, about six or seven points that they have raised. To fulfill all your schemes, you will also need a lot of money. My average estimate is that you will need approximately one lakh crore rupees. As I said earlier, even if you had spent 50,000 crore rupees on capital expenditure per year, your debt would still reach 20 lakh crore rupees in the end. You will also see that scenario in Tamil Nadu during your rule.
Therefore, this debt is something I have been saying continuously. Those who are in basic public finance should see debt as a tool of finance. There are so many welfare schemes, so many beneficial schemes. It is not important for a government to borrow money for all of them. The important thing is how you service the borrowed debt, how you repay it, and what percentage of debt you maintain within the GSTP. That is what you should look at, not the absolute number. I have said this many times, and I emphasize it again. Therefore, any government borrows money for the welfare of the public, for their development. We are doing this for deficit funding, for the welfare schemes of the people. You have also announced that. To fulfill what you have announced, you will also need that money. We will wait and see how you fulfill them.
However, if you look at it in the same way, even though your revenues have increased by 8% as you say, in the coming period, if you look at this year alone, I estimate that you should get approximately 16,000 crore rupees additionally. Therefore, with all this, you are saying that we cannot do all this now, that fiscal space is limited, minimal, or low. This shows your helplessness. You have released this white paper today to tell the people that we are in a situation where we cannot fulfill these schemes. They say here that there is leakage here and leakage there, that it is an open secret. Now they have thrown up their hands. Their throwing up their hands is the wide open secret of the government, their helplessness is the wide open secret of the government.
Can we conclude that the election promises cannot be fulfilled based on the white paper released yesterday? If they cannot be fulfilled, how much public outcry do you think will occur? The public is certainly watching. You promised to completely waive cooperative crop loans. Then you said only 7,000 rupees. Farmers in the Delta region and across Tamil Nadu were agitated. There was a protest. Now you have said 75,000 rupees, which is also not enough, isn't it? You said you would fulfill your promise. Today, in Tamil Nadu, like a single grain of rice representing a pot of rice, all the farmers in Tamil Nadu are up in arms regarding cooperative loans. You yourself have given it. We are not saying it. You have stated it as your election promise. You said you would do it.
Furthermore, are all these details you have mentioned only after you came to power? No, in the interim budget presented by us, we have stated all the details. If you look at it, it is even more detailed. Everything is transparent, everything is in black and white. We have already provided you with the financial statement. There is no need to hide anything, nor is there any necessity to hide it. What is the total revenue of the country, what is your debt, what is your fiscal deficit, what is your revenue deficit? We have explained all of this to you. In it, we have explained how we have reduced our financial management. By how much we have reduced the fiscal deficit each year, how the revenue deficit has been reduced. We have explained in each paragraph the reasons for the revenue deficit, why the revenue deficit has increased in such absolute numbers. After knowing everything, you are releasing the election manifesto. Therefore, you have already taken everything into cognizance, everything into account. After that, you have given your election manifesto and promises. Therefore, you have the responsibility to fulfill that promise. To escape from that, this white paper is released under the guise of a white paper as a pure escapism.
I say, when the Dravida Munnetra Kazhagam came to power, there was a similar fiscal constraint. We said so, but we also said that we would fulfill our commitments 100%. We have fulfilled the promises made. We can say with pride that the Dravida Munnetra Kazhagam has fulfilled them. But you, from the very first day, within 15-20 days, said you would prepare and then immediately said that we cannot fulfill this, implying that there is no fiscal space to fulfill these schemes. If you start saying this now, it shows that you are not prepared to fulfill them.
How can you say that no effort has been made? He says there is no problem in spending on schemes. He says it is our state's pride. But he says no effort has been made to increase revenue. On what basis does he say that efforts have not been made to increase revenue? How much have our investments come? You say 10 lakh crore debt, but it is 12 lakh crore. Our investments have come to 12 lakh crore rupees. It is because we have received money that we are spending so much. Based on the money we receive, how much is coming from our SOTR? Also, what is coming to us from SOTR? Only 25%. 75% of the money should come from the Union Government. The money coming from them is not coming to us. Revenue is decreasing. To say more, even what is coming from the Finance Commission this year is being reduced. I have continuously told you about all the consequences. I have told you how much money that should come to us is not coming. Despite all this, have we stopped any of the welfare schemes we announced? The women's rights scheme, which was for 1 crore 15 lakh people, we have extended it to 1 crore 31 lakh people. We gave the Pongal gift amount. We have not reduced any of the announced promises. We have done everything within the limits of financial management. You also do it, sir.
I will mention some departments. For example, in the mining department, there has been a huge loss, sir. I said it, sir. I am saying it. You are talking about leakage. You are mentioning four or five departments. You tell me. How is the revenue from SOTR? Regarding revenue, in total, from mineral resources. Like a single grain of rice representing a pot of rice, you yourself take GST. He says it's not coming in four areas, not in GST. I am saying the same thing. You yourself were the GST Commissioner. If there was leakage, you could have stopped it. Why is that opportunity not there? What are the factors? That is why I say this. You are saying now that we are going to do all this. You say you are going to increase your SOTR. Fine, no one will blame you for that. When you present your revised budget, we will see the figure. I am waiting for that figure. Let's see how it becomes one lakh crore rupees.
Sir, what I am saying is, sir, I will say it as it is. You say 10 lakh crore rupees. This is doubling. Historically, if you look, that is why I told you. Historically, if you look, this money, from 57,000 crore rupees, when that person comes back, it becomes one lakh crore rupees, and it becomes one lakh crore rupees. The percentage increases to 2.7 again. It was 4.85, and it comes to 4.8. I am still saying this. You should state your schemes. The schemes we have given, you said yesterday that these are good schemes. A friend said well. He said they did not borrow without permission. He also said that many good schemes are being implemented with the borrowed money. Say that you are implementing good schemes, and we welcome it. The schemes we brought are good schemes, as we have said today. To say more, we are talking about such a big report, sir. You say double digits. Neighboring states are also saying it. I ask, why has it become double digits? We have reached 11.9%, haven't we? Why are you not stating that percentage? After so much consensus, a friend asked, what action are you taking to increase revenue? Only if you take action to increase revenue will your overall economy... How has the economy become double digits today? We are saying we are the second largest economy today. We are saying that more women are working. What is the reason for all this? When we go to the financial review meeting, the Chief Minister proudly states the overall financial situation of Tamil Nadu. What is the reason for that? Hasn't all this been created based on financial management? Why is nothing said about that?
So, what we are saying is that the welfare schemes that are already in practice and the promises you have made today, if you fulfill all of them and then give a report, it will be excellent, sir. The administration has made policy decisions that have led to administrative breakdown. But specifically, it is said that it cannot be brought through this finance for ten years. That's what I'm saying, sir. You have already abandoned it. You have taken it as abandoned. Immediately, you said there are no new schemes. Why are you saying this now? You are saying that we cannot fulfill the promises you have made. You came to power saying you would fulfill these schemes. Are these fiscal figures, the fiscal position of the state, new today? After we finished our administration, it is included as part of my speech in the interim budget presented by the Finance Minister. Therefore, no figure in Tamil Nadu's financial administration is hidden, nor is that figure masked. Everything is already on paper. You are saying all this after looking at it. So, after looking at all that, you have promised the people that you will do it. Try to fulfill it. If you cannot fulfill it, to cover up your helplessness, I say again at the end of this press meet. This government is trying to hide its helplessness by taking refuge behind this white paper. Sir, just one question. The minister said yesterday that the corrupt government is prosperous. He said the government is prosperous.