CHENNAI: DMK MLA and former finance minister Thangam Thennarasu on Tuesday questioned the ruling TVK government’s claim of improved fiscal management following a 21 per cent decline in State borrowings during the first half of 2026-27, alleging that the reduction could reflect a slowdown in capital expenditure and delays in clearing contractors’ bills.

In a statement, he demanded that the government disclose its capital expenditure during April-September, spending on new infrastructure projects and outstanding payments for works initiated under the previous DMK regime.

The State’s borrowings through government securities fell to Rs 40,500 crore in the first half of 2026-27 from Rs 51,300 crore in the corresponding period last year, according to the government.

Thangam Thennarasu said the previous DMK government had allocated Rs 57,231 crore for capital expenditure in its 2025-26 Budget. According to provisional monthly accounts of the Comptroller and Auditor General, Rs 13,002.22 crore was spent on capital projects, including metro rail, between April and September 2025.

“Can a government claim credit for financial management by delaying development works and withholding payments for completed projects? Can unpaid dues be treated as savings?” he asked.

He also questioned the government’s borrowing plans, pointing out that it proposed to raise Rs 48,000 crore during October-December, more than double the Rs 23,500 crore raised in the preceding quarter.

Alleging that revenue receipts had fallen short of budget estimates, Thangam Thennarasu claimed that the government was struggling to sustain capital expenditure. He further alleged that tenders worth thousands of crores had been cancelled, construction projects had stalled, road conditions had deteriorated and thousands of people had lost their jobs.

He urged the government to publish a detailed account of capital spending and outstanding payments rather than project lower borrowings as an achievement.