Kerala FM to present State Budget for 2019-20

Kerala Finance Minister Dr Thomas Issac will present the State budget for 2019-20 here on Thursday morning.

Kerala's Gross State Domestic Product (GSDP) grew by 0.96 per cent to close at 7.18 in FY 2017-18, the Minister told news persons here last  evening.

According to the Economic Review-2018 tabled in the State Assembly, the GSDP has increased from 6.22 percent (2016-17) to 7.18, the Minister added.

The per capita GSDP at constant (2011-12) prices in 2017-18 stands at Rs 1,48,927 as against Rs 1,39,645 in the previous financial year.

The growth rate of Own Tax Revenue (OTR) rose to 10.16 per cent in 2017-18 from 8.16 in 2016-17.

Agriculture and allied sectors registered a growth rate of 3.64 per cent in 2017-18. The GSDP in the manufacturing sector was 9.2 per cent, up from 7.8 percent during 2016-17.

Even though the inflow of NRI deposits increased in 2017-18, the growth rate has declined compared to the previous financial year, the Minister added.