Rs 15 lakh crore vision to make state numero uno in 11 years

Chennai:

Chief Minister J Jayalalithaa on Thursday unveiled her vision to take the state on a high growth trajectory by charting out various initiatives, including universal access to infrastructure services to the tune of Rs 15 lakh crore in the next 11 years on Thursday

Releasing the Vision 2023 document at a packed audience, which included trade captains, bureaucrats, ministers and consul generals, she urged the non-governmental sources, including private sector organizations, banks and foreign direct investments to help meet the resource requirements in transforming the state to numero uno position.

Quoting French poet, playwright and novelist Victor Hugo, she said, “No power on earth can stop an idea whose times has come. I want to say that the emergence of Tamil nadu as a major economic power happens to be one such idea.”

She said over the next 11 years, Tamil nadu will aim to increase its GDSP at a growth rate of 11 per cent per annum – about 20 per cent more than the expected growth rate of India’s GDP over the same period.

“Given the expected increase in population of 15 per cent over the next 11 years, the increase in per capita income would amount to six times over this period,” Jayalalithaa said.

Stating that the aspiration for Tamil nadu to make its economy grow at over 11 per cent per annum over the next 11 years is an chievable goal, she said in 2005-06, the state clocked an impressive growth rate of 13.95 per cent and the manufacturing sector registered an all time high growth of 15.10 per cent. “Although this growth momentum decelerated in subsequent years, there is no reason to believe that we cannot reclaim the high growth path,” she said.

She also said Tamil Nadu will be able increase its per capita income at today’s prices by six times to reach Rs 4.5 lakh or $10,000 in 2023 in line with per capita income of upper middle income countries.