TN Chief minister J Jayalalithaa has unveiled a 11-year roadmap, which pitches Tamil Nadu as a global investment destination with potential for projects worth Rs 15 lakh crore. The ‘Vision 2023’ document stresses on high levels of private participation in sectors ranging from roads and ports to agriculture and manufacturing in a bid to boost economic output and ensure that the state tops the human development index in the country. The strategic release of a 11-year plan, a day after her party’s landslide byelection victory, is seen as a move by the AIADMK chief to seek a mandate that goes beyond her present five-year tenure. Although political fortunes in TN have swung every five years in recent decades, the CM promised that she “will not rest or give up till she realized her dream”. Jayalalithaa made it plain that her ambitions go beyond making Tamil Nadu the most attractive destination for investments in India. “Attaining one among the top three positions in Asia would be tantamount to benchmarking Tamil Nadu with countries such as South Korea, Thailand and Malaysia, which are ranked 8, 17 and 18 in the world by the International Finance Corporation (IFC) in its study on ‘Ease of Doing Business’,” she said at a gathering attended by industrialists and heads of chambers of commerce.
TN as a global investment destination with potential for projects worth 15 lakh crore
An economic boom that will raise the GSDP growth rate to 11%
Increasing the annual per capita income by six times to 4.5 lakh
20,000MW of additional power generation capacity
Training 20 million people for job skills, building cold chains and grain storage complexes, setting up medical hubs, and eight-laning of roads.
Given the present investment climate and shortage of power, the state would find it a challenge to meet the deadline. “I am aware that the state government alone cannot meet the resource requirements. A substantial portion of the financing for infrastructure has to be mobilized from nongovernmental sources, including private sector organizations, banks and foreign direct investment,” Jayalalithaa said. Commenting on the strategy, Madras School of Economics director D K Srivastava said, “Sectoral priorities are alright. The competitive edge that Tamil Nadu can build is totally dependent on the infrastructure facilities the state can provide. The vision is quite achievable, and it will allow it to take advantage over other states.”