Tamil Nadu’s economic growth geographically equitable, says Finance Minister
The Hindu
Tamil Nadu's FM says growth spread across State; GSDP up 8.19%, inflation 5.97%. State focussing on manufacturing to generate employment, schemes to keep inflation low.
Tamil Nadu’s Finance Minister Thangam Thennarasu on Monday said the economic growth being witnessed in the State was equitable and spread out across the State without being concentrated in one or two places.
Addressing media on the Gross State Domestic Product (GSDP) and inflation figures compiled by the Department of Economics and Statistics in consultation with the State Planning Commission (SPC), he said every district had different industries contributing to the economy. He said this was unlike certain other States where only one or two regions contributed to the economy.
Responding to a question on economic disparities between the districts in Tamil Nadu, he said the investments attracted by the State in the last couple of years was spread out across the State.
Mr. Thennarasu pointed out that the GSDP of Tamil Nadu grew by 8.19 % at constant prices in 2022-23 compared to the country’s GDP growth of 7.24 %. He said the State’s inflation index value was lower at 5.97 in 2022-23 compared to 8.82 for the country. The Hindu had reported these figures in detail on Sunday.
The Minister said while the primary (which includes agriculture) and secondary (which includes manufacturing) was contributing more to the high economic growth, the State government was also focussing on increasing the contribution of the services sector to the growth through measures like the setting up of logistics parks in the State.
State Planning Commission Vice-Chairman J. Jeyaranjan highlighted how the State was concentrating on manufacturing sector, which he said had the potential of generating more employment than the services sector. He said schemes like free bus ride for women and an expansive public distribution system contributed to keeping the inflation low in the State than the country.
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