Kerala's GDP records higher growth rate at 7.5% in 2018-19; agriculture, allied sector decline

Thiruvananthapuram: The Economic Survey for 2018-2019 tabled by the Kerala government in the Assembly on Thursday showed a higher growth rate with the state’s Gross Domestic Product at 7.5 percent during the period as against 7.3 percent in 2017-18. According to the survey, though the growth rate was on a higher side, agriculture and allied sector growth declined. “The agriculture and allied sector growth declined to (-)0.5 percent during 2018-19 from a growth rate of 1.7 percent in 2017-18,” it said. The survey also said the contribution of secondary and tertiary sectors improved from 2017-18. “In 2017-18, the contribution from the secondary sector was 27.7 percent at constant prices and 25 percent at current prices. Among the sectors, the highest growth was in the secondary sector with 8.8 percent growth at constant (2011-12) prices followed by the tertiary sector (8.4 percent),” the survey said. It also said the growth in the secondary sector was mainly due to a spurt in the manufacturing sector. [caption id=“attachment_5039221” align=“alignleft” width=“380”] File image of Thomas Isaac. PTI[/caption] The survey said the total turnover of State Public Sector Undertakings under Industries Department in 2018-19 was Rs 3,442.74 crore, an increase of 17.9 percent from 2017-18. It said the state has an internet penetration rate of 54 percent and it was the second-highest in the country. The survey, citing the National Sample Survey Office, said women in Kerala were far ahead in terms of computer literacy and basic internet knowledge. “In rural areas, 35.1 per cent of women in Kerala have basic internet knowledge. The all India level is 8.5 percent. In the case of urban areas, 41.7 percent women in Kerala have basic internet knowledge (30.1 percent at national level). Kerala is the first State to make internet access a basic right,” a release issued by the finance department said. According to quick estimates for 2018-19, Kerala’s per capita income is Rs 1.48 lakh as against the national average of Rs 93,655. “In other words, the average income per person in Kerala was approximately 1.6 times the Indian average in 2018-19,” it said. Finance minister Thomas Isaac will present the state budget on Friday (today).