Tamil Nadu achieves unprecedented economic growth, says Finance Minister

Tamil Nadu’s economy expanded from ₹15.71 lakh crore in the previous year to ₹17.23 lakh crore in the current year, said Finance Minister Thangam Thennarasu, while addressing the media here on Saturday.

 According to the reports by the union government’s Statistics and Programme Implementation Department, Tamil Nadu has reached a new peak in real economic growth rate of 9.69% for the current year, the Minister added. Mr. Thangam Thennarasu further noted, “We have now achieved a level of growth that was unattainable over the past 10 years. This has been made possible through the clear guidance and several measures taken by the Chief Minister.” 

He also mentioned that if this 9.69% growth was seen at constant prices, then at nominal price including impact of inflation, the growth rate would actually be at 14%.

According to the Economic Survey Report, which was released ahead of the budget for the current fiscal year, the State’s economic growth was earlier estimated at 8%, but it has reached 9.69%. Notably, renowned economists such as Rangarajan and K. R. Shanmugam had projected that Tamil Nadu’s growth rate would reach 9.3%, a figure which has been currently surpassed.

Among the primary sectors, agriculture, manufacturing and services, the service sector contributed the most to this growth, followed by the manufacturing sector. 

The Minister emphasised that if the growth trend continues in the line with the Chief Minister’s vision, Tamil Nadu was well on its way to becoming a one trillion dollar economy by 2030.

Published - April 05, 2025 07:49 pm IST