India might have slowed down, but Kerala is still growing at a fast pace, says the economic review of Kerala for 2012. The Review states that the Gross State Domestic Product of the State grew 9.50 per cent in 2011-12, compared to just 6.5 per cent for the country as a whole. The growth rate during 2010-11 was 8.05 per cent. The growth recorded by the State is also the highest among South Indian States : Andhra Pradesh, Karnataka and Tamil Nadu grew 6.81 per cent, 6.44 per cent and 9.39 per cent respectively during the year
The GSDP of the Kerala at constant (2004-05) prices grew from Rs1,91,866.76 crore in 2010-11 to Rs2,10,107.17 crore in 2011-12, says the Review. The GSDP at current prices is estimated at Rs3,15,205.67 crores for 2011-12 as against Rs2,69,473.79 crores during 2010-11 showing a growth rate of nearly 17 per cent.
The Net State Domestic Product (State Income) at factor cost at constant prices (2004-05) also grew 9.85 per cent to Rs1,86,997.59 crore in 2011-12 from Rs1,70,236.91 crore during 2010-11. At current prices the State Income was Rs2,80,870.84 crore in 2011-12 compared to the Rs2,39,425.85 crore in 2010-11, a growth of 17.3 per cent up from 16.2 per cent in 2010-11.
The per capita income in the State at constant (2004-05) prices also grew 8.75 per cent during the year from Rs 55,667 in 2010-11 to Rs60,536 in 2011-12. At current prices, the per capita income grew 16.16 per cent to touch Rs 90,816.
The primary, secondary and tertiary sectors contributed 9.5 per cent, 20.2 per cent and 70.2 per cent respectively to the GSDP at constant prices (2004-05). The tertiary sector recorded the highest rate of growth -11.81 per cent - in 2011-12 followed by the secondary sector (7 percent) while the primary sector showed a negative growth (-0.7 per cent).
The figures were a bit different though when one considers the current prices, indicating that inflationary trends in the primary sector is much higher than in the secondary and tertiary sector.. The primary, secondary and tertiary sectors contributed 15.1 per cent, 21 per cent and 63.2 per cent respectively to the GSDP at current prices during 2011-12, recording growth rates of 15.5 per cent, 15.2 per cent and 18 per cent respectively.