Kerala registers 9.5 per cent growth in GSDP
The average retail prices of almost all essential goods rose considerably during January-October last indicating that stringent measures were required for stabilising the prices of essential commodities, the report said.
In contrast to spiral in prices of essential commodities, the prices of spices, coconut coconut-oil,agri products that play a vital role in state economy, declined, the report pointed out.
Efforts were required to be made for ensuring moderation in food inflation by promoting domestic cultivation of food crops especially vegetables and increasing production of milk and eggs, it was stated.
Releasing the Review, State Finance Minister K M Mani said the targets set by the budget 2012-13 indicated that considerable fiscal consolidation has taken place, but "there are still some challenges". Though the state's economy grew by 9.5 per cent, unemployment rate continued to be highest with 14.3 per cent, the report said.
The total debt of the state stood at Rs 89,418 crore at the end of the financial year 2011-12. The annual growth rate of debt increased by 13.7 per cent in 2011-12 against 10.9 per cent in 2010-11.
Per capita debt of Kerala which was 15,700 in 2007 increased to 19,900 in 2009, and Rs.24,600 in 2011, it was pointed out. Significant positive aspect in social sector was that state's population growth rate was 4.9 per cent, one of the lowest rates in the country.
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