Kerala 15th Five Year Plan to target 7 per cent annual growth
The State Planning Board aims to increase the gross state domestic product to ₹28 lakh crore by 2032 using a project-based approach.
The 15th Five Year Plan for Kerala aims to increase the gross state domestic product (GSDP) from the current ₹16 lakh crore to ₹28 lakh crore by 2032, according to The Hindu.
The plan, covering the period from 2027 to 2032, seeks to achieve an annual growth rate of 7 per cent, up from the current 5 per cent. The State Planning Board stated that the plan will be prepared in "project mode" using a SMART framework that is specific, measurable, achievable, result-oriented and time-bound.
Chief Minister V.D. Satheesan presided over the first meeting of the reconstituted State Planning Board on Thursday, where the Approach Paper for the plan was approved. During the meeting, the board decided to establish the Kerala employment and economic opportunity mission, which will be chaired by the Chief Minister and transferred to the State government within 24 months.
The board also decided to create a Yuvakeralam mission and tasked the Scheduled Tribes Welfare department with drafting an action plan to implement the Forest Rights Act over five years. Additionally, a proposal was approved for the State Planning Board to access up to ₹2.44 crore annually from the NITI Aayog under the State Support Mission.
Board Vice-Chairman K.M. Chandrasekhar said the state will move towards a "partnership economy" by collaborating with the private sector, banks, cooperatives, local bodies and other external agencies to meet development goals. Chief Minister Satheesan emphasised the need for effective resource use and external funding due to limited state resources.