Economic Review - 1999. Kerala

Abstract

Development in National Policy: The all India GDP growth, in real terms, was 6.8% in 1998- 99, but is expected to be lower at 5.9% in 1999-2000, a tall of 13.24% in growth rate inspite of the stated position that the economy is on the course of recovery from the slowdown it was experiencing in 1997-98 when growth was 5.1%. Index of agriculture production is projected at (-) 2.2% in 1999-2000 as against a 7.4% growth achieved in the previous year. It is a matter of concern that foodgrains production is expected to fall by 1.9% from 203.4 million tonnes in 1998-99 to 199.1 million tonnes in 1999-2000, inspite of the fact that the rainfall has been quite close to normal, except in a few meteorological subdivisions. Significant fall is expected in the case of coarse grains and pulses. GDP growth in Agriculture and Allied sectors is expected to fall sharply to 0.8% in 1999- 2000 compared to 7.2% in 1998-99.