Table of Contents
What is the main economic activity in Kerala?
The primary sector of the state is mainly based upon Cash crops. Kerala produces a significant amount of national output of the cash crops such as Coconut, Tea, Coffee, pepper, Natural rubber, Cardamom, and Cashew in India.
What are the features of Kerala economy?
The following are the features of the predominantly agrarian economy of Kerala: Kerala is a major producer of cash crops like coconuts, rubber, tea, coffee, pepper, cardamom, cashew, areca nut, nutmeg, ginger, cinnamon, and cloves. Coconuts bring the people their principal source of earning in agriculture.
What is the contribution of industry and service sector to the GDP?
Today the service sector accounts for almost 54\% of Indian GVA of 179.15 lakh crores. The Industry sector lags behind it with 25.92\% contribution and the Agriculture sector is at the third place with 20.19\% contribution.
What is the main product category or sector which is the most important one in recent years as compared to 70 years back?
It is the service sector that is most important sector in recent times, when compared to the 70 years back. Today, service is the most important basis of value creation and marketing to the consumers.
What is the current debt of Kerala?
The overall debt of the state has increased by 65 per cent from Rs 1,60,539 crore in 2015-16 to Rs 2,65,362 crore in 2019-20. Capital expenditure, which was Rs 7,500 crore in 2015-16, became Rs 8455 crore in 2019-20. However, this is only 12 percent of the total expenditure.
Does Kerala’s economic growth lead to better public finances?
Kerala is widely known for its high human development indicators but has also shown remarkable economic growth in the period since 2002-03. Our analysis shows that this economic progress has not been associated with improvement in the public finances of the state.
What was the GDP growth rate of Kerala in 2013?
Kerala had recorded a growth rate of 6.49 per cent in 2013, which was above the national average (4.04) and the second highest among South Indian States. The state’s growth rate was above that of Karnataka (5.79 per cent) and Andhra Pradesh (5.97 per cent).
What is the Kerala Phenomenon of development?
Kerala’s high GDP and productivity figures with higher development figures is often dubbed the ” Kerala Phenomenon ” or the “Kerala Model” of development by economists, political scientists, and sociologists.
Does Kerala have the highest pension burden among comparable States?
Significantly, as percentage of revenue expenditure, at present Kerala has highest salary and pension burden among the comparable states. As percentage of state GDP, the total expenditure on social and economic services has declined significantly in Kerala over time, including during the phase of high economic growth from 2002-03.