In short term, TN's growth rate to be 9%, says economic survey

THE first-ever economic survey of Tamil Nadu released by Chief Minister M K Stalin for the year 2024-25 said that based on current trends and economic projections, the state seems to be well-positioned for robust growth in the coming years.

- T MURUGANANDHAM

Tamil Nadu contributes 9.21% of India's GDP despite having just 6% of the population, the CM said in his 'X' post pointing to the survey.

The survey said given the projected capital expenditure (Capex) of ₹47,681 crore, a significant influx of committed investments, and a supportive policy environment, Tamil Nadu's economy is likely to outpace national growth.

In 2022-23, Tamil Nadu's per capita income was ₹2.78 lakh, 1.6 times the national average of ₹1.69 lakh. The state consistently outpaced the national average over the years and is the fourth-largest state in per capita income.

The survey also pointed out that in the short term, Tamil Nadu is expected to maintain a real growth rate of approximately 9% with an inflation rate of around 5%, as large-scale infrastructure projects, industrial growth, and foreign investments continue to spur economic activity.

India's national economy recorded 7.61% growth in 2022-23, 9.19% in 2023-24, and 6.48% in 2024-25.

The survey covers the developments in all sectors of Tamil Nadu's economy over the past five years, while listing out the issues to be addressed and development gaps to be bridged in the state to achieve more in the coming years.