Tamil Nadu Records 9.69% Economic Growth

Thoothukudi: Tamil Nadu led the nation with 9.6 per cent growth, the highest in India, with an unwavering focus on inclusivity, gender equality and geographical spread of growth, Chief Minister M K Stalin said on Saturday.

Driven by sound fundamentals, steady governance and a clear strategic vision, the Dravidian Model was shaping the future of the State and people, powering ahead the State on its pursuit of a US $ 1 trillion economy with vigour and determination, Stalin said in a message on X.

In Thoothukudi, state minister for finance, climate change and environment, Thangam Thennarasu said the State played a key role in India's economic growth, contributing 9 percent to the Nation's Gross Domestic product (GDP).

Thennarasu was participating in the "Puthozhil Kalam" event aimed at promoting entrepreneurship under the Startup initiative when he presented awards to outstanding young entrepreneurs for their innovative ventures.

Later addressing the press, he highlighted the state's impressive economic growth, pointing at the recent report of the Union Ministry of Statistics and Programme implementation that Tamil Nadu's economy grew at a stable rate of 9.69 percent, a remarkable feat.

The state finance minister credited the robust growth to various initiatives taken by the Chief Minister over the past four years and said the state's economy, which stood at Rs 15.75 lakh crore, was projected to rise to Rs 17.23 lakh crore this year.

Adjusted for inflation, the real growth rate of the state stood at 9.69 percent and when factoring in inflation it reached nearly 14 percent, he said and mentioned that the state's pre-budget fiscal report had already projected this growth rate across eight key sectors.

"Eminent economists such as C.Rangarajan and K.R.Shanmugam had earlier estimated Tamil Nadu's growth rate at 9.3 percent, which the state has now surpassed," he said, crediting the growth to key sectors including agriculture, manufacturing and services.

If the state continued at this pace, it could achieve the one trillion dollar economy by 2030, as envisaged by the Chief Minister, Thennarasu said.

The event was also attended by state ministers Geetha Jeevan, Anitha Radhakrishnan, Thoothukudi MP, Kanimozhi Karunanidhi and Thoothukudi mayor Jegan Periyasamy, along with several other officials.