The success of the Kerala model development is yet again proven beyond doubt with the State recording a robust growth rate of 9.5 percent during the financial year of 2011-12. The growth rate of Kerala is not only the highest among all southern states but also way above the national average of 6.5% for the corresponding period
The state’s economy made a jump start from 8.05% of the preceding year, which points to a vibrant all round growth. NRI remittances continue to be the main factor in Kerala’s development history with the remittances touching Rs 55,000 Crore, which was 23 per cent more than the previous year’s remittances that stood at Rs 45,000 crore.
However, the agricultural scenerio paints a sorry picture as it has recorded a negative growth of 1.6 per cent for the first time in recent times and a sharp drop of 4.5% in agricultural income. Kerala continues to retain its pace of development in education and its school drop out rate fell by 4.5 per cent. Though Kerala, continues to be the most literate state, the fact that unemployment rates shot up to the fourth highest in the country will be a cause of concern for the state. At present , there are 45 lakh people listed in the employment exchanges, which is up from 43 lakh in 2010-11. This might sound paradoxical considering the fact that Kerala is home to over 25 lakh migrant labourers, which shows that Keralaites are not willing to take up any available jobs on offer to keep the wolves away from their doors. Being highly choosy, the workforce of Kerala looks for easy means to make money, often leaving the arduous and manual jobs to the migrant labour force.
The industry watchers and economic gurus have highlighted the urgent need for the State administration to give impetus to agriculture. It has also warned the state on the unchecked urbanisation, which is putting pressure on natural resources like drinking water, which could push the state into a crisis. It is high time that we learn to cut a balance between the needs of man and its consequences on nature to ensure a stable and long term growth pattern.
Kochi: The astute investors in Kochi have joined the top league of wealth management gurus who vie to get a bigger pie of the shares and stocks. Though Kochi flaunted the celebrity tag of being the commercial capital of Kerala it could not make much an impact on the investment scenario all these years due to an array of factors. However now the tide has turned in its favor thanks to a booming and buoyant economy, people are eyeing maximum returns and attractive investment options as never before.Typically the bullions have been the forte of only the upper class but today share trading has caught up the fancy of all irrespective of their social status. Many consider it as an easy way to mint quick money. The stability of stocks has set off an exhilarating mood in the stock markets according to industry watchers and the future looks brilliant for the avid investors in particular and the trading community in general. The mushrooming of countless wealth management companies drop hints at the popularity of stock trading as never before. With the real estate prices spiraling high, many investors have turned their eye to the softer options of stocks according to wealth management experts. The major chunk of NRI remittances to Kerala was ploughed back into the real estate sector earlier. However the small time investors who felt the heat of the sky rocketing land prices are settling for the equally lucrative stock trading option to enhance returns.
Mutual funds, which flash the trump card of its liquidity factor are the chart busters among the impressive line up of investment options. Guaranteed returns and increased awareness is thought to be the reason for this. It is estimated that today, the daily stock market turnover in the State is around 1,000 Crores, which is double the last year’s figure. Companies are leaving no stone unturned in making the hay while the sun shines by releasing public bonds and equities to cash in on the trend. It goes without saying that these sweeping winds of changes indicate a promising future to this tiny state of Kerala.