No letup in TN’s growth rate, show central data
The GSDP growth rates were 8.13 per cent in 2022-23 and 8.23 per cent in 2023-24 at constant prices, and 15.48 per cent and 13.71 per cent at current prices.
CHENNAI: The Gross State Domestic Product (GSDP) of Tamil Nadu grew marginally to 8.23 per cent at constant prices in 2023-24 from 8.13 per cent in the previous fiscal, the State Planning and Development Department said.
Sharing the data released by the Union Ministry of Economics and Statistics, the additional Chief Secretary of Planning and Development said on Monday that the GSDP for 2022-23 was Rs 14.51 lakh crore at constant prices and Rs 23.93 lakh crore at current prices, while it increased to Rs 15.71 lakh crore at constant prices and Rs 27.21 crore at current prices.
The GSDP growth rates were 8.13 per cent in 2022-23 and 8.23 per cent in 2023-24 at constant prices, and 15.48 per cent and 13.71 per cent at current prices.
The official said Tamil Nadu ranked second in GSDP at current prices, next only to Maharashtra, and third at constant prices after Maharashtra and Gujarat in 2022-23.
Drawing a comparison between State and national inflation rates, the government claimed credit for keeping the inflation rates at 5.97 per cent in 2022-23 and 5.37 per cent in 2023-24, while it was 6.65 per cent and 5.38 per cent nationally.
The average economic growth rate was 5.80 per cent in real terms from 2012-13 to 2020-21, but the growth rates for 2021-22, 2022-23 and 2023-24 were 7.85 per cent, 8.13 per cent and 8.23 per cent, respectively, at constant prices, which resulted in an average growth rate of 8.08 per cent, reflecting a notable improvement in overall economic performance compared to 2012-13 to 2020-21 period.
Tamil Nadu's per capita income was estimated Rs 1,66,590 for 2022-23 and Rs 1,79,732 for 2023-24, 1.68 times more than national figures of Rs 99,404 and Rs 1,06,744, respectively at constant prices.
SHINING SOUTH
Per capita income
TN - Rs 2,77,802 in 2022-23 and Rs 3,15,220 in 2023-24
National - 1,69,496 in 2022-23 and Rs 1,84,205 in 2023-24
State’s figures 1.71 times more in 2023-24 (current prices)
TN’s GSDP as a proportion to national GDP was 8.88% in 2022-23 and 9.21% in 2023-24 at current prices