Economy

 

Economic Review 2017 reflects comprehensively on the impacts of developments as well as the interventions made by the State Government in various sectors over the last year. The growth rate in the economy, both national and State, in 2016-17 was around 7 per cent. The tertiary sector has been the driving force of economic growth in the State. Although positive signs of growth are visible in the agriculture sector, this growth must be characterised as inadequate. The situation was exacerbated by drought in Kerala in 2017. In the industrial sector, public sector undertakings under chemical and electronic sectors are being transformed from loss-making to profit-making enterprises. Steps have also been initiated to improve the image of State as an investment destination.

 

 
Kerala was declared the first digital State in the country in February 2016. The Government's Information Technology Policy of 2017 aims to achieve a total digitally literate society. In the field of education, a significant achievement has been the increase in enrolment in Government schools. The success of the State's major scheme for the elderly population, Vayomithram, has been acknowledged by Government of India.
 
The second phase of democratic decentralisation in Kerala has been initiated with the introduction of a new set of guidelines for the formulation and implementation of the Local Government plans. An important objective of the new guidelines was to simplify the procedures so that delays in implementation can be avoided. As a result of the introduction of the new methodology, all Local Governments in the State completed the process of formulation of their Annual Plans for 2017-18 before June 15, 2017. This is an unprecedented achievement in the history of local level planning in the State.
 
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Source : Economic Review 2017