Revealing the state economy's soaring trend, Tamil Nadu Finance Minister Thangam Thennarasu has shared a slew of crucial data about the state's economic course and how it is outsmarting the rest of the country. Thennarasu has held a press conference in Chennai on Monday at the State Planning Commission's office and he was joined by Jayaranjan, who the deputy chairman of the commission.
While addressing the reporters, Thennarasu, based on the findings about the state's gross domestic product (GDP) and the economy in the past two years, said that the inflation in the state is plummeting while the per capita income scale is surging more than the nation's average. By citing that Tamil Nadu accounts nine per cent in India's overall GDP, the minister stated that the economic trend is gradually increasing for the past two years.
Thennarasu said that in FY 2021-22, the state reported an economic growth of 7.92 per cent and the same stood at 8.19 per cent in FY 2022-23. He further revealed that Tamil Nadu stands as the second biggest economy in India and that the economic growth in the state is increasing after the COVID-19 outbreak and the pandemic-triggered-lockdown.
"The state's per capita income has also increased. In 2021-22, the per capita income of Tamil Nadu was Rs 1,54,557 and in 2022-23, it has surged to Rs 1,66,727", the minister added. While the national average per capita income is Rs 98,374, Tamil Nadu has surpassed it to become one of the states with high income generations.
Thangam Thennarasu further said that Tamil Nadu has a low inflation rate compared to the rest of the country and though India reported a negative growth during the COVID-19 pandemic, Tamil Nadu had built a momentum of positive growth. "Animal husbandry department has reported a splendid growth and in the past two years, Tamil Nadu has witnessed an eight per cent growth in an average", the minister stated, adding that the schemes and vision of the Dravidian model government were instrumental behind the state's economic growth.