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Continuing major economic crisis :
- REVIEW: A budget that has its feet
flat on the ground: |
GIRI's Corner |
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By Girish Raghavan, Koyilandy
- 23/03/07 |
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When
reviewing the Kerala budget, it is essential to have an exact idea of the
economic background when the budget was prepared.
This fiscal year Dr Isaac had to deal with the continuation of a major
economic crisis. The crisis that agricultural and allied sector has been
experiencing for the last 7-8 years hasn’t improved, the price drop for
commercial crop has lead to a major disaster in the agricultural sector of
the state which is very much depended on commercial crops. Suicides have
become a common headline in agricultural districts such as Wayanad, Palakad,
and Allapuza. The manufacturing sector is also heading towards a major
disaster due to lack of efficiency, high import, and lack of fresh
investments. This crisis obviously has its influence on the economic
condition and the employment generation capacity of the state.
But the Economic review indicated that the states economy had grown at an
average of 8% during the 10th plan period. However this hike is very much
depended on the astonishing growth that the state is witnessing in the
service sector for the last few years, thus mimicking the national growth.
Next :
Addressing the problems |
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