Kerala''s Annual Plan Implementation - Aug 20, 2008

The implementation of Kerala''s current annual Plan has so far been better than the accomplishment during the same period of the previous annual Plan, said the Chief Minister, Mr V.S. Achuthanandan. At a review meeting here on Aug 12 of the Plan implementation till July 31 this year, the Chief Minister said the annual Plan spending for 2007-08 was Rs 6,950 crore, which was later revised to Rs 6,693 crore. The total Plan outlay, comprising the Central assistance for Centrally-sponsored schemes, worked out to Rs 7,964 crore.

The total expenditure at the end of the year from State''s share of the Plan was Rs 5,065 crore, which was 73 per cent of the Plan outlay. The outlay for State schemes in the current annual Plan is Rs 7,700 crore and till July 31, the expenditure was Rs 938 crore, representing 12 per cent of the outlay. The allotment for various government departments in the current Plan is Rs 5,822 crore and till July 31, the expenditure was to the tune of Rs 810 crore.

Kerala Govt To See Rs 3,000cr Additional Expenditure Next Fiscal - July 11, 2008

The Kerala Government will incur extra expenditure to the tune of Rs 3,000 crore in next financial year due to price increased caused by the increase in prices of petroleum products. The Finance Minister, Dr Thomas Isaac, said that the Kerala State Road Transport Corporation (KSRTC) will have to bear an additional load of Rs 60 crore because of the increase in petroleum prices. Besides, the Government will need Rs 350 crore to pay one instalment of dearness allowance to the government employees. On the other hand, the State will lose revenue on account of reduction in the sales tax on petrol and diesel. The tax had also been decreased to five per cent for other petroleum products. The Government will soon declare measures to restrict wasteful expenditure after going via the measures taken during the last 15 years.

Kerala Chalks Out Schemes Worth Rs 40,422cr For 11th Plan - July 9, 2008

Kerala has submitted schemes worth Rs 40,422 crore to the Planning Commission for clearance for the 11th Five Year Plan. The Chief Minister, Mr V.S. Achuthanandan, said that the Government hoped to get grants to the tune of Rs 3,175.65 crore and loans of Rs 7,529.87 crore from the Centre for the implementation of the Plan. The Plan allocation for foreign-aided projects is Rs 4,861 crore.

The Chief Minister said that the loopholes in the draft Coastal Management Zone (CMZ) notification issued by the Centre had to be plugged to prevent the exploitation of coastal area resources. The draft notification contains enough loopholes that will assist investors in the tourism and construction sectors exploit the coastal areas and the resources.

Kerala Sees 8.1% Growth In GSDP

Thiruvananthapuram: The Gross State Domestic Product (GSDP) of Kerala increased to 8.1 per cent in 2006-07, which was marginally higher than the eight per cent registered in the previous year. A significant event was the setting up of Debt Relief Commission by the State Government, which brought significant hopes to the distressed peasantry. Debt relief, together with the provision of an assured remunerative price of Rs 9 per kg for paddy and the implementation of the National Rural Employment Guarantee Scheme in the poorest districts of the State, brought some relief in rural distress.

At current prices, the GSDP is pegged at Rs 1,32,738.53 crore as against Rs 1,18,998.19 crore in the previous year. The growth rate in current prices is 11.6 per cent 2006-07 as compared to 11.2 per cent in the previous year.The per capita state income at constant prices increased from Rs 25,657 in 2005-06 to Rs 27,284 in 2006-07, reporting a growth of 6.3 per cent. At current prices, it was Rs 33,609 in 2006-07 as against Rs 30,668 in the previous year, with the growth rate being 9.6 per cent.

Kerala''s Revenue Deficit Declines In ''06-07

Thiruvananthapuram: The revenue deficit of Kerala witnessed a fall in 2006-07 as compared to the previous year.As per the report of the Comptroller and Auditor General of India (CAG) for the year, which was tabled in the State Assembly, the revenue receipts grew by 18.9 per cent (Rs 2,892 crore), while the expenditure increased by 13 per cent (Rs 2,401 crore). This resulted in a fall of Rs 491 crore in revenue deficit over the previous year. The increase in revenue receipts was mainly contributed by tax revenue (Rs 2,163 crore) and the State''s share of Union taxes and duties (Rs 694 crore). The tax revenue rose by 22 per cent to Rs 11,942 crore from Rs 9,779 crore in the previous year. Taxes on sales, trade and others were the major source of the State''s own tax revenue (72 per cent), followed by stamps and registration fees (13 per cent), State excise (eight per cent) and tax on vehicles (six per cent). On the non-tax revenue side, receipts from forest and wildlife (19 per cent), State lotteries (25 per cent), education, sports, arts and culture (11 per cent) and interest receipts, dividends and profits (eight per cent) were the main contributing factors.

Nabard Sanctions Rs 144.33 Cr Loan To Kerala

The National Bank for Agriculture and Rural Development (Nabard) has approved Rs 144.33 crore for 63 projects from its Rural Infrastructure Development Fund XIII (RIDF- XIII) to Kerala. This includes funding for the implementation of the Chamravattom multipurpose project, which would involve a loan of Rs 95.12 crore, by the water resources department in Malappuram district across Bharathapuzha river.

The project, on completion, is expected to benefit an area of 3,235 hectares ensuring availability of sufficient water for rice cultivation, controlling the intrusion of saline water into the upstream side of the regulator and ensuring availability of assured water for drinking purpose. As many as 16 villages, with a total population of around 43,000, are expected to get direct benefits. The project is also expected to reduce the distance between Kozhikode and Ernakulam by 40 km. The bank has also sanctioned an RIDF loan of Rs 35.44 crore for the construction of 13 rural roads, which include a tourism road, and three bridges.