Kerala Economic Review 1998

Abstract

The GDP growth rate during 1997-98 was a dismal 5 per cent when compared to a growth rate of 6.8 per cent per annum achieved during the Eighth Plan period and of 7.7 per cent achieved during 1994-95 to 1996-97. The deterioration in growth rate is even worse, if one takes into account the fact that an one per cent growth is attributed to the 20 per cent increase in real value added in the public administration and defence sub-sector arising principally from pay increase to Government Servants.