State GSDP grows to 7.18pc, farm sector shines

State GSDP grows to 7.18pc, farm sector shines

Agency News

Kerala continued its growth trajectory with the Gross State Domestic Product (GSDP) for 2017-18 pegged at 7.18 per cent, up from 6.22 the previous year.

Finance Minister Thomas Isaac presented the economic survey for 2017-18 in the Assembly on Wednesday, a day before presenting the vote on account.

A full budget is not being presented as the general election are just two to three months away and once the dates are announced, regulations would be in place making it difficult to announce programmes.

Isaac said the State economy was on the growth path. However, the devastating flood in July and August did spell disaster in the State, making rebuilding take away a chunk of funds.
according to the survey, the per capita GSDP at constant (2011-12) prices in 2017-18 was Rs 1,48,927 as against Rs 1,39,645 in 2016-17.the The GSDP in the manufacturing sector went up to 9.2 per cent from 7.8 per cent. The secondary sector grew to 6.52 per cent from 4.8. the growth in the tertiary sector was lower reaching 5.84 per cent from 5.

The renewed thrust for the farm sector saw the GSDP in real terms in agriculture and related activities grow to 3.64 per cent up from 0.08 the previous year.