Tamil Nadu Budget: Focus on manufacturing and sustainable growth

Finance Minister Thangam Thennarasu presented the DMK government’s fifth state budget since coming to power in 2021 under chief minister MK Stalin. This is Thennarasu’s second budget after taking over as finance minister in May 2023 during a Cabinet reshuffle. The FM said manufacturing must be the central pillar for employment generation and reiterated that the state will push industrial development while ensuring the conservation of natural resources and sustainable growth across regions.

“Tamil Nadu remains a key growth engine, driven by a robust manufacturing base, rapid expansion in the services sector, and sustained public and private investments. The state has emerged as a leader in electronics and electric vehicle (EV) manufacturing, attracting major investments,” he said. He said this sector has witnessed ‘remarkable growth,’ with electronics exports rising from $1.66 billion in 2021-22 to $5.37 billion in 2023-24 and is projected to surpass $12 billion in 2024-25. Here are some of the major announcements from the TN budget related to industries and workforce: