Chennai: Tamil Nadu Minister for Finance and Human Resource Development Palanivel Thiaga Rajan has said the state government is undertaking steps, including financial hedging, to withstand any impending crisis that might hit the globe or India.

“I am concerned and worried that we could run into a global recession in the next 2-3 years. The Tamil Nadu government is already taking sufficient steps, including financial hedging, to withstand any impending crisis. If we were to be hit by a global or national recession, I can assure you all that Tamil Nadu would be better placed than most other states to overcome such a crisis,” Palanivel Thiaga Rajan said, while addressing members of the Jain International Trade Organisation (JITO) here on Sunday.

Elaborating, he said such measures have been part of the efforts ever since this government 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 the next six months as well as two years ahead,” Thiaga Rajan said.

Recalling his conversations with his leader and CM M.K. Stalin ahead of the 2019 Parliamentary elections, Thiaga Rajan said he had predicted that the alliance would win by at least a 7-8% margin, but eventually won by 22.6%. He had then told his leader that he was not worried about the outcome of the 2021 elections but should be worried about how to govern the state after coming to power.

“We started planning two years ahead and that helped us to hit the ground running when we assumed power in May 2021 amidst the deep depths of the Covid second wave crisis. From then on, we have been working to ensure inclusive and equitable growth for all.”