Chennai, Feb 8 (IANS): DMK President M.K. Stalin on Friday termed the Tamil Nadu budget for 2019-20 as useless for the poor and said the money that was to be spent on growth was being paid as interest.

Stalin, also the Leader of the Opposition, in the Assembly said the budget has no announcements pertaining to employment generation as well as revenue generation given the debt levels at around Rs 4,00,000 crore.

He said the state's finance was similar to an insolvent company.

On the other hand, PMK founder S. Ramadoss said the budget, although largely a disappointing one, has couple of good announcements like the allocation of Rs 1,000 crore for Athikadavu Avinashi water scheme.

Referring to the waste-to-energy project announced in the budget, Ramadoss said it would result in air pollution. He also said the mega parking scheme here would result in congestion and not ease traffic.

Interestingly, PMK is one of the parties that the ruling AIADMK wanted to be its electoral alliance partner in the ensuing Lok Sabha polls.

According to MDMK's Vaiko, the budget has no new schemes and sounds like a compilation of last eight budgets presented by Panneerselvam.