Per-capita GSP of Kerala during the same period is ₹205,484 ( Template:INRConvert/Currency Template:INRConvert/Wordify), the sixth largest in India. In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared to 28% by secondary sector, and 8% by primary sector. Kerala's high GDP and productivity figures with higher development figures is often dubbed the " Kerala Phenomenon" or the "Kerala Model" of development by economists, political scientists, and sociologists. This phenomenon arises mainly from Kerala's land reforms, social upliftment of entire communities initiated from the first democratic government of Kerala led by E. Namboodiripad and subsequently implemented by various governments ruled the state. Kerala's economy is primarily based on the concept of " democratic socialist welfare state". Some, such as Financial Express, use the term "Money Order Economy". Kerala is the second-most urbanised major state in the country with 47.7% urban population according to the 2011 Census of India, and has tried to maintain a pan-state economy rather than concentrating in some selected cities to develope. Kerala is the second-least impoverished state in India according to the Annual Report of Reserve Bank of India published in 2013, only after to Goa. Kerala, which accounts for 2.8% of India's population and 1.2% of its land area, contributes more than 4% to the GDP of India. Thus, the southern state's per capita income is 60% higher than India's average. This has fuelled internal migration to Kerala for low-end jobs, even as Keralites have emigrated-mostly to the Gulf countries-in search of better-paying jobs. Around 3,000,000 Keralites are working abroad, mainly in Persian Gulf to where migration started with the Gulf Boom. The Kerala Economy is therefore largely dependent on trade in services and resulted remittances.
0 Comments
Leave a Reply. |