Puducherry economy grew by 44 per cent in five years: Governor Kalaishnathan during budget session
PUDUCHERRY: Delivering the customary address at the opening of the budget session of the Legislative Assembly on Monday, Lt. Governor K Kailashnathan highlighted the significant progress made by the All India NR Congress-BJP government in the past five years. The economy of Puducherry in terms of GSDP, has expanded by 44.06% over the past five years, achieving an average annual growth rate of 9.56%, he said.
The Gross State Domestic Product (GSDP) growth rate, which stood at -2.21% in 2020-21, has improved to 8.81% in 2024-25. The per capita income at current prices has risen by 5.33% in 2024-25 to reach Rs 3,02,680 from Rs 2,87,354 in the previous fiscal year, he said .
"Despite the sources and opportunities for augmenting our revenue resources being very limited, the Union Territory's own revenue receipts have increased from Rs 8,418 crores in 2020-2021 to Rs 11,311.92 crores in 2023-2024, showing a growth rate of 34.36 per cent due to innovative measures adopted by the government," said Kalaishnathan.
In the current year (2024-2025) , the revised outlay has been enhanced to Rs 13,235 crore, up from the budget estimate of Rs 12,700 crore, with an additional Rs 535 crore earmarked for development projects.
The unemployment growth rate in Puducherry has dropped from 6.7% in 2020-21 to 4.3% in 2024-25. Over the last four years, 2,444 government posts have been filled, and recruitment is ongoing.
Additionally, 236 micro, small, and medium enterprises have been established, generating employment for 10,888 youths.
Further, 35 mega job fairs and skill development programs have provided private sector employment to 8,460 individuals, bringing the total number of jobs created to 21,792.
Under the Perunthalaivar Kamaraj Housing Scheme, 5,302 families have received new homes since 2021, while 5,252 more houses are under construction. The government has also extended Rs 207.18 crore in relief measures for Cyclone Fengal, with Rs 61 crores financial assistance provided by the central government.
Puducherry has been classified as an "Achiever" in Affordable and Clean Energy and "Top Performer" in Zero Hunger, Industry, Innovation & Infrastructure, and Reduced Inequalities among Union Territories.
A Rs 4,750 crore Integrated Urban Livability Project has been submitted to the Centre to enhance water supply, sewerage, and road connectivity. The Ministry of Housing and Urban Affairs has recommended Rs 3,290 crore for water infrastructure projects, while the Ministry of Road Transport and Highways (MoRTH) has cleared road-related proposals.
In addition, MORTH has approved the elevated corridor from Rajiv Gandhi Square to Indira Gandhi Square and widening of Cuddalore Road. MoRTH for an Rs 1,000 crores and the elevated corridor will be taken up in the next financial year.
The government has also increased power availability from 490 MW to 570 MW over the past four years, ensuring a stable electricity supply.
A Rs 1,433 crore project for strengthening coastal resilience, supported by the World Bank, is under consideration by NITI Aayog and the Ministry of Home Affairs.
Besides, the Centre has approved the installation of 14 artificial reefs at a cost of Rs 4.34 crore, with a recommendation for 25 additional reefs under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
Deep-sea fishing initiatives, including subsidized fishing vessels, are being implemented to address challenges faced by the fishing community.
Efforts are being made to position Puducherry as a "BEST" (Business, Education, Spiritual, and Tourism) hub, aligning with the vision of Prime Minister Narendra Modi.
Stating that Puducherry is already an education hub with over 100 higher educational institutions, he said the focus of the government now is to implement the New Education Policy robustly and effectively for building foundational education, improving the quality of higher education and driving skill development programmes to tap demographic dividend of our skilled and youthful population.
He listed the various measures taken by the government in implementing the smart city mission and also in industrial, agricultural, tourism and other sectors.
With a focus on technology-driven, citizen-centric, and climate-sensitive development, Puducherry is prioritizing infrastructure projects and welfare schemes. The administration remains committed to achieving faster, sustainable, and inclusive growth, aiming for balanced socio-economic progress in the Union Territory, he said .