The Tamil Nadu govt. has set up a high level committee headed by former RBI Governor and former Chairman of the Prime Minister’s Economic Advisory Council, C Rangarajan. The committee which is comprised of economists and as well as industry experts will assess the overall immediate and med-term impact of the Corona virus pandemic on different sectors of the State’s economy and identify possible sources of funding.
The lockdown and the post-lockdown of social-distancing measures needed to limit the spread of the Covid-19 virus are bound to have a medium-term impact on different sectors of the state’s economy. These include Agriculture, Industries including tourism, construction, real estate and etc.
The committee will submit its final report to the state govt within 3 months, apart from submitting an interim report. The members include A Vellayan, former Murugappa Group chairman, N Srinivasan, vice chairman and MD of India Cements, Venu Srinivasan, TVS Motors chairman, Padmaja Chunduru, managing director of Indian Bank, P N Vasudevan, managing director and CEO of Equitas Bank, apart from bureaucrats and academicians.
The committee will assess opportunities and threats in the short and medium term along with measures required to help key sectors overcome the impact of the pandemic situatio. It will identify specific reform measures to be taken by the State to support and promote the growth of the sectors and identify possible sources of financing and funding for infrastructure projects as well as small businesses and other enterprises.
The Tamil Nadu government had constituted an expert committee headed by the Finance Department Secretary and 21 officials and non officials. Its job was to consult stakeholders and generate the suggestions and to submit a report to the Government on the way forward, with specific reference to strategic measures post lockdown.