Investment target Rs 2 lakh crore in the Kerala economy

Kochi: The LDF government has set an investment target of over Rs 2 lakh crore in the Kerala economy, doubling the state’s annual plan outlay and achieving a growth rate of 13 per cent in the next five years.

The final draft of the approach paper for the 13th five-year plan (2017-22), which DC has accessed, seeks to achieve the targets by consolidating its traditionally strong areas such as education, health and tourism and revitalising agriculture and IT. It also lays emphasis on a clean environment and protection of water resources. The paper calls for creating 4 lakh jobs in the tourism sector and observing 2019 as ‘International Come to Kerala Year’. In IT, it looks for the creation of 10 million sq ft space and creation of 1 lakh jobs.

The approach paper, which the State Planning Board approved recently, says the state’s own tax revenues will grow at an annual rate of around 18 per cent during the plan period.

The Planning Board shares the enthusiasm finance minister Dr Thomas Isaac has for Kerala Infrastructure Investment Board (KIIFB) as its sees the agency as an innovative tool to source investment. Curiously, the cooperative sector which is under attack from many quarters, will be the other key source for the government to meet its investment targets. It also expects around Rs 40,000 from the centre for centrally-sponsored schemes.  

The paper calls for extensive use of modern technology in production promotion of suctainable development and modernisation of governance and administration.