Kerala's economy

Kerala’s gross state domestic product grew 9.13% in the financial year 2010-11, up from 8.95% recorded in the previous fiscal, the Economic Survey released on Saturday revealed. The revenue deficit showed a downward trend in 2010-11, dipping to 1.4% from the previous year’s 2.18%. The government is targeting zero deficit by 2013-14.Releasing the Economic Survey, finance minister K M Mani, however, said the deficit has increased during the current fiscal. “This was because the UDF government had to bear an additional Rs 4,825 crore through salary and pension revisions which the previous LDF government had announced but not allotted,” he said. The primary sector registered a negative growth of 0.78 in 2010-11, the survey said. Paddy production also slid to 5, 22, 000 metric tones, compared to 5, 98,000 the previous year. The tourism sector remained buoyant, which registered an increase of 18.31% in 2010-11. After setting a role model for primary health care and human development index, the state has now raised its bar, moving ahead of the national per capita income. Kerala’s per capita income stands at Rs 56,107 as compared to the national average of Rs 54,527, state economic review of 2011 showed.

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