Former RBI Governor C. Rangarajan submitted the report on boosting Tamil Nadu's economy to pre-COVID levels, to Chief Minister Edappadi Palaniswamy in Chennai, yesterday.<br />'' <br />''Meanwhile, the total COVID-19 infections in the state have gone up to 5.47 lakh while the recoveries have reached almost 4.92 lakh. The active caseload in the state remains at 46.5 thousand.<br />'' <br />''The report of the 24-member panel led by ex-RBI Governor C. Rangarajan indicates that the Tamil Nadu economy will rebound in about two months to the pre-COVID levels. The panel was tasked with assessing the impact of the pandemic on the state's revenues and to suggest medium term measures to ensure the rebounding of the economy.<br />'' <br />''After submitting the 250-page report, Mr Rangarajan, who currently chairs the Madras School of Economics, told reporters, there may be a likely contraction, though the GST collection, fuel consumption and power usage show the signs of the green shoots of growth.<br />''<br />'' However, he said, it would be difficult to predict the state's growth rate at this juncture. Increasing the capital expenditure, launching guaranteed job schemes in urban areas just like in the rural parts and increased allocation for the state revenue department are some of the recommendations made by the panel. <br />