State budget in Tamil Nadu today; slip in growth a concern

State budget in Tamil Nadu today
Chennai, Feb 13: Tamil Nadu's finance minister O Panneerselvam will present the state budget on Thursday amid concerns that the state's economic growth for 2012-13 is the lowest in the country at 4.14 per cent, lower than the national GDP of 4.9 pr cent, according to a report in Times of India.

Tamil Nadu's figure has also been the lowest since 2005-06. According to the Planning Commission, the southern state has been hit worse than othr states by the nationwide slowdown.

Power problem, agricultural setbacks have pegged Tamil Nadu's growth back

The biggest concern for the state has been power problem which has affected its manufacturing and services sectors. According to the Planning Commission, the situation could have been better had the state tackled its ower situation in a better way and backed small and medium-scale industries. The state's agricultural sector has also been hit by poor monsoon and irrigation problems.

Last year, Chief Minister J Jayalalithaa said that Tamil Nadu attracted massive investments but the state's GDp has been slipping steadily since 2010-11, the ToI report said.

OneIndia News

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