Progressive social policies, robust infra, placed TN on economic growth trajectory: Economic Survey

Tamil Nadu's progressive social policies, robust infrastructure facilities, and large skilled labour force enabled the state to place itself on an elevated economic development trajectory, making the state contribute 9.21 per cent to national GDP in 2023-24, Tamil Nadu's first economic survey 2024-25 said on Thursday. The survey brought out by the State Planning Commission and handed over to Chief Minister M K Stalin, said the Gross State Domestic Product (GSDP) at current prices reached Rs 27.22 lakh crore in 2023-24, posting a nominal growth rate of 13.71 per cent and a real growth rate of 8.33 per cent.
«Tamil Nadu economy in 2024-25 faced global headwinds with its innate economic strength. The pandemic, coupled with geopolitical tensions and extreme weather events, disrupted global supply chains and triggered crises in the energy and food sectors,» it said.
The global economy posted a real growth rate of 3.33 percent in 2023. India's economy recorded 7.61 percent growth in 2022-23, 9.19 per cent in 2023-24, and 6.48 per cent in 2024-25.
«Building on a strong foundation of inclusive policies, Tamil Nadu has demonstrated remarkable economic resilience, consistently achieving growth rates of 8 per cent or more since 2021-22, and the state is expected to maintain a growth rate above 8 per cent in 2024-25,» it said.
In 2022-23, Tamil Nadu's per capita income was Rs 2.78 lakh, 1.6 times the national average of Rs 1.69 lakh. The state consistently outpaced the national average over the years and is the fourth-largest state in per capita income.

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Tamil Nadu's economic development is more evenly distributed across multiple urban centers. Cities like Coimbatore, Madurai, Tirupur, Tiruchirappalli, and Salem