
Debt figures alone don’t reflect economic strength, says P. Chidambaram in defence of TN
Chennai, Jan 1 (IANS) Senior Congress leader and former Union Finance Minister P. Chidambaram on Thursday asserted that assessing a state’s financial health solely on the basis of its total debt is fundamentally flawed, as such comparisons ignore broader economic realities.In a statement where he extended New Year greetings, Chidambaram said that rising public debt is a global phenomenon and should not be selectively used to criticise individual states like Tamil Nadu. Developed economies such as the United States, the United Kingdom, Japan, France, and Canada continue to witness an annual increase in their overall public debt, he noted. "The same trend is visible in India as well. Both the country’s total debt and the combined debt of all states rise every year. This, by itself, is not ab...









