Thaindian News

Chennai, Sep 5 (IANS) Tamil Nadu Chief Minister J. Jayalalithaa Monday said the state is better positioned now to push the reform process forward and she is confident that the state would log double digit growth over the next five years.

Stating that her government is confident of facing domestic and international challenges to achieve inclusive growth, she said: “We are also better placed now than at any time in the recent past to push the reform process forward.”

She was speaking at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industry (FICCI) here.

According to her, the government will revitalize the manufacturing sector by launching
“a package of second generation reforms”.

She said the government will come out with a new industrial policy and also sector specific policies for automobiles and auto components, bio-technology and pharma sectors.

“Our re-oriented strategy of development focuses on a strong policy and regulatory leadership by the government, dynamism and competitive efficiency of the private sector and enthusiastic participation of the people through local democratic institutions,” she said.

Referring to the Planning Commission’s approach paper to the Twelfth Five Year Plan (2012-2017) where the growth target was indicated as 9-9.5 percent she said: “My government is therefore aiming to exceed the national average growth rates and make Tamil Nadu grow faster than the rest of India. In fact, we had done this in the past and an encore is not far off.”

“In 2005-06, Tamil Nadu under my government clocked an overall growth rate of 13.3 percent and the manufacturing sector had registered a growth rate of 14.6 percent. However, these growth rates dipped in successive years. I am very confident of repeating double digit growth rates in the next five years.”

Stressing that industry cannot grow on its own unless there is all round growth in the agricultural sector, Jayalalithaa said her government has chalked out a new strategy for the achieving four percent growth of primary sector.

“We will usher in this second green revolution to improve agricultural production by addressing the productivity gap and through value addition. We have also set for ourselves an ambitious goal of two to three times increase in farmers’ per capita income within five years,” she said.

Referring to the power situation in the state she said by the end of 2012, the state will have additional capacity of 4,640 MW and the government is planning to undertake measures to add 23,140 MW to the existing installed capacity of 10,237 MW over the next five years.