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Kerala’s economy on revival, GSDP growth at 12.01 % in 2021-22 : Thomas Isaac

T M Thomas Isaac/Image Credit: Facebook

After Covid induced slow down, Kerala’s economy is on a path of revival as state Gross State Domestic Product (GSDP) has recorded a growth rate of 12.01 per cent in 2021-22 compared to national average of 8.7 per cent.

The positive sign of the state’s economy was revealed by Former Finance Minister T M Thomas Isaac in a tweet in which he also attributed capital expenditure by KIIFB and massive land acquisition for NH projects as the major reasons for the states’ economic growth.

“After severe COVID set back in economic growth for two years Kerala economy is back on growth track. GSDP growth rate for 2021-22 is 12.01% compared to national 8.7%. The performance is the outcome of additional capital expenditure through KIIFB and massive NH land acquisition,” he said in the Tweet.

KIIFB has been the major source of funding for various big infrastructure projects in the state in the last two years. The 43rd meeting of the KIIF Board held this year had approved funding for infrastructure development projects in Kerala to the tune of Rs 6943.37 crore and they include major projects like Anakkampoyil-Kalladi-Meppadi two-way tunnel road in Wayanad for Rs 2134.50 crore, West coast canal development for Rs 915.84 crore, Global Industries Finance Trade City (GIFT City) for Rs 850 crore.

As per official records, the total funding sanctions by KIIFB has crossed Rs 70,000 crore and the total number of approved projects has risen to 962.

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