Can India face a crisis like Sri Lanka? Hear from TN Finance Minister Palanivel Thiagarajan!

Tamil Nadu Finance Minister Palanivel Thiagarajan has spelt a caution that India can face a crisis like Sri Lanka as the risk factor for such downfall is getting real. Slamming the Modi regime, Palanivel Thiagarajan has said that the problem is the unchecked power grab by the BJP. He has divulged his remark while commenting on the Twitter post of Shiv Sena's Rajya Sabha MP Priyanka Chaturvedi. 

Retweeting the tweet from Priyanka Chaturvedi, Palanivel Thiagarajan has on Monday - April 4 said, "The risk of going SL (Sri Lanka) way is very real. But more than populist measures, the problem is the unchecked (by constitutional limits or independent institutions) power grab by the Union Govt, where one-size-fits-all schemes are hatched without debate & hence will cause real damage."

His statement has come a day after the Union government was warned by the authorities that India could face a crisis like Sri Lanka. On Saturday, during the briefing, the bureaucrats had warned Prime Minister Narendra Modi that the populist schemes announced by some states were inviable and could such states to face a downfall similar to our neighbouring country. The authorities said that freebies announced in the recent assembly polls can drive the states towards risk. 

According to IANS, some secretaries had said that populist schemes were announced in the recent assembly polls in the states, which are already in poor economic conditions. These sops are not economically viable and they can take the states in the path of Sri Lanka. The reports further say that the authorities had said that the schemes announced in the states like Punjab, Telangana, Andhra Pradesh, Delhi, and West Bengal were economically inviable. 

The Prime Minister had held discussions with the bureaucrats for four hours. Narendra Modi had also held several meetings on Monday - April 4 with the secretaries of all departments and Principal Secretary to the Prime Minister, PK Mishra, Cabinet Secretary Rajiv Gauba, and National Security Adviser Ajit Doval. He had taken stock of various situations and issues with his secretaries and the meeting had also reviewed the ongoing developments in Sri Lanka.