CHENNAI: Tamil Nadu finance minister N Marie Wilson told “kutti stories” or parables on microeconomics to explain the macroeconomics of the state, during a 90-minute press meet after releasing a white paper on the state’s fiscal management.
Parables and Microeconomics
The minister started with a couplet on medicine - “In excess or in deficit, imbalance breeds affliction.” He described every single chapter of the white paper with a parable. While referring to the leakage of state resources, he said that if a barrel has four holes, it is wise to fix them before pouring more water into it.
Debt and Borrowing
On the state’s debt and borrowing, the minister said if a family takes out a loan to purchase a house, it will turn into an asset. If it borrows money to buy groceries, the debt will compound, lead to unwanted liabilities, and keep growing.
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