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Tamil Nadu to Form CM Economic Advisory Council with Esther Duflo, Raghuram Rajan and Others as Members | India News


By Julie Mariappan | TNN
CHENNAI: The Tamil Nadu government will set up a “Chief Minister’s Economic Advisory Council” with leading economic experts from around the world as members.
The government said that a white paper detailing the true state of Tamil Nadu’s finances will be published in July.
Addressing the state legislature, Governor Banwarilal Purohit said the council would be made up of Nobel laureate Esther Duflo from the Massachusetts Institute of Technology (MIT), USA, the former Governor of the Reserve Bank of India, Raghuram Rajan, the former chief economic adviser to the central government, Dr. Arvind Subramanian, the development economist Jean Dreze, and the former Union finance secretary, Dr. S Narayan.
“Based on the recommendations of this council, the government will revitalize the state’s economy and ensure that the benefits of economic growth reach all segments of society,” said Purohit.
The state’s focus will be on further diversifying the districts’ industrial base and ensuring technology upgrades.
The governor also said that an expert committee made up of industrialists, banking and financial experts and government officials will be formed to formulate the schemes for the reactivation of MSMEs.
On the energy front, Purihit said state power companies “Tangedco and Tantransco were facing a severe financial crisis due to mismanagement in recent years.”
A detailed strategic study of the finances and governance structure of the utilities will be carried out.
The state government also announced that the necessary steps would be taken to hold elections in local bodies once the intensity of the Covid pandemic subsided and after ensuring that the previously conducted scoping exercise was appropriate in all respects.
The government provided Rs 10,068 crore for livelihood assistance after taking office.

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