Economy
Tamil Nadu is the second largest contributor to India's GDP. Tamil Nadu's gross state domestic product for the year 2011-2012 was 4.28 lakh crore or $145,868 Million. The state has shown a growth of 9.4% in the year 2011-2012. Tamil Nadu is the second most industrialised state in India. It ranks third in foreign direct investment (FDI) approvals (cumulative 1991–2002) of 225,826 million ($5,000 million), next only to Maharashtra and Delhi constituting 9.12% of the total FDI in the country. The per capita income in 2007–2008 for the state was 72,993 ranking third among states with a population over 10 million and has steadily been above the national average.
| Year | GSDP | Growth Rate | Share in India |
|---|---|---|---|
| 2000–01 | 142,065 | 5.87% | 7.62% |
| 2001–02 | 139,842 | -1.56% | 7.09% |
| 2002–03 | 142,295 | 1.75% | 6.95% |
| 2003–04 | 150,815 | 5.99% | 6.79% |
| 2004–05 | 219,003 | 11.45% | 7.37% |
| 2005–06 | 249,567 | 13.96% | 7.67% |
| 2006–07 | 287,530 | 15.21% | 8.07% |
| 2007–08 | 305,157 | 6.13% | 7.83% |
| 2008–09 | 320,085 | 4.89% | 7.70% |
| 2009–10 | 350,258 | 9.43% | 7.77% |
| 2010–11 | 391,372 | 11.74% | 8.01% |
| 2011–12 | 428,109 | 9.39% | 8.20% |
According to the 2011 Census, Tamil Nadu is the most urbanised state in India(49%), accounting for 9.6% of the urban population while only comprising 6% of India’s total population and . and is the most urbanised state in India. Services contributes to 45% of the economic activity in the state, followed by manufacturing at 34% and agriculture at 21%. Government is the major investor in the state with 51% of total investments, followed by private Indian investors at 29.9% and foreign private investors at 14.9%. Tamil Nadu has a network of about 113 industrial parks and estates offering developed plots with supporting infrastructure.
According to the publications of the Tamil Nadu government the Gross State Domestic Product at Constant Prices (Base year 2004–2005) for the year 2011–2012 is 428,109 crores, an increase of 9.39% over the previous year. The per capita income at current price is 72,993.
Read more about this topic: Tamil Nadu
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)