Finance minister PTR Palanivel Thiagarajan has said the state government is undertaking steps including financial hedging to withstand any risks or impending financial crisis that were to 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. 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 recession or a national recession, I can assure you all that Tamil Nadu would be better placed than most other states to overcome such a crisis,” Thiagarajan said, after inaugurating the 8th Installation and oath ceremony of the new chairman and Managing Committee of Jain International Trade Organisation (JITO) Chennai Chapter for the term 2022-2024 . Elaborating, he said such measures have been part of the efforts ever since the DMK government came to power last year: “Governance is akin to playing a game of chess, where you have to plan at least two-three moves ahead. We plan things ahead for next six months as well as two years ahead,” he said.