The State government will play the role of a change agent under the Public-Private Partnership (PPP) mode; originate infrastructure projects in line with Vision 2023 and will also focus on the important functions of regulation and overall governance, Chief Minister Jayalalithaa said on Thursday.
Launching the Tamil Nadu Vision 2023 document here, the Chief Minister acknowledged that the State government alone could not meet the total projected investment requirement of Rs.15 lakh crore. “A substantial portion of the financing for infrastructure has to be mobilised from non-governmental sources, including private sector organisations, banks, and Foreign Direct Investment.”
The government would play the central role of a procurer of infrastructure services on behalf of Tamil Nadu people and would facilitate private investment and service delivery in the infrastructure sector.
To attract the private sector participation in infrastructure building, the standing of Tamil Nadu had to be improved with regard to the investment climate, one of the key planks of the Vision document. While Tamil Nadu was already enjoying a good position in India from the perspective of investment flows, the document envisaged the State becoming one of the top three destinations for investment in Asia, and also emerging as the most attractive State for investments in India.
Elaborating on the Vision Themes, the Chief Minister said that over the next 11 years, Tamil Nadu would aim to increase its Gross State Domestic Product (GSDP) at a growth rate of 11 per cent or more per annum – about 20 per cent more than the expected growth rate of India's GDP over the same period.
Given the expected increase in population of 15 per cent in 11 years, the increase in per capita income would amount to 6 times over the period.
Along with a high rate of economic growth, the document also sought to reduce simultaneously inequality of incomes across the State. It placed substantial emphasis on inclusive growth by channelling considerable resources to the lowest income groups and ensuring that Tamil Nadu became poverty free.
The provision of piped and pressurised water to all citizens, complete elimination of open defecation and creation of slum-free and hut-free Tamil Nadu were part of her vision, she said, referring to the plan for the construction of 25 lakh affordable houses for the poor in this context.
The State should be criss-crossed with high-speed, safe multi-lane highways and every district should have high quality roads before the end of 2023.
The document also envisaged training and equipping 20 million persons with skills over the next 11 years. “I recognise the need to establish ten or more top of the league institutions as Centres of Excellence in various fields that will attract the best talents from across the globe,” Ms Jayalalithaa said.
The development of 10 world class cities in the State (essentially existing towns whose infrastructure is to be upgraded significantly) had also be visualised and they would become the nuclei and engines of economic growth, facilitating regional and balanced development across the State, the Chief Minister added.
On the occasion, N. Sundaradevan, Principal Secretary (Industries) in the State government and chairperson of the Tamil Nadu Industrial Development Corporation, signed a memorandum of understanding with the Engineers India for the development of petroleum, chemical and petrochemicals investment region in Cuddalore and Nagapattinam districts.
An agreement was signed between the TIDCO and Indian Oil Corporation for the LNG import terminal project in Kattupalli of Tiruvallur district.
Industries Minister P. Thangamani, Chief Secretary Debendranath Sarangi and Principal Secretary (Finance) K. Shanmugam participated.