Tamil Nadu FM concerned about a global recession

Chennai:  State Finance Minister Palanivel Thiaga Rajan said the State government was taking various steps that included financial hedging to enable the state to withstand any risk that might arise from an impending crisis that could hit the world or India.

‘I am concerned and worried that we could run into a global recession in the next two to three years,’ he said at an event organized by the Jain International Trade Organisation (JITO) in Chennai on Monday.

Thiaga Rajan, who was the chief guest at the installation of JITO’s Chennai chapter office bearers, led by Ramesh Dugar as chairman, said that Tamil Nadu would be better placed than most other States to overcome such financial crisis as the government had initiated the required measures ever since it came to power last year.

"Governance is akin to playing a game of chess, where you have to plan at least 2-3 moves ahead. We plan things ahead for next six months as well as two years ahead," Thiaga Rajan said.

The Minister felicitated the new team of JITO office bearers, including Nehal Shah the Chief Secretary and Shalin A Shah the treasurer.