By citing that Tamil Nadu accounts nine per cent in India's overall GDP, the minister stated that the economic trend is gradually increasing for the past two years. 

After learning about his passing away, several leaders including Prime Minister Narendra Modi had expressed their tribute and condolences to the bereaving family. 

On June 8, Wednesday, An Offical Statement from the cabinet said “It is notable that return over MSP for bajra, tur, urad sunflower seed, soybean, and groundnut is more than 50 percent over the all-India weighted average cost of production at 85 percent, 60 percent, 59 percent, 56 percent, 53 percent, and 51 percent respectively,”

Default is a weakening economic state that occurs when the governments are unable to meet some or all of their debt payments to creditors.

The influx of the Sri Lankan Tamils has been increasing and the Tamil Nadu government has enforced the measures to accommodate them. 

The Rajapaksa clan was running nearly 80% of the nation's economy directly from its hands and its mishandling has pushed Sri Lanka's economy to a disastrous downfall. 

His resignation has come ahead of the crucial talks that were scheduled with the International Monetary Fund for a loan programme.

His statement has come a day after the Union government was warned by the authorities that India could face a crisis like Sri Lanka.

Hundreds of thousands of people have been protesting against the island's worst economic downfall with no sight of emancipation, though the government claims to be engaging in salvaging efforts. 

Following the declaration of the state of emergency, the government has deployed and given more power to the military to arrest suspects without warrants.