Kerala Plans to Boost Economy and Income Through New Growth Strategy

Keralam's upcoming 15th Five-Year Plan for the years 2027 to 2032 aims to speed up economic growth through public participation and partnerships.

Plan Targets And Funding

Kerala State Planning Board vice-chairperson K.M. Chandrasekhar spoke about the plan at a meeting in Kozhikode on Friday. The plan targets an increase in the State's Gross State Domestic Product from ₹16 lakh crore to ₹28 lakh crore. Nearly 77% of State revenue goes toward salaries, pensions, and interest payments. This leaves about ₹23,000 crore annually for capital spending, which officials note is not enough for full development. To bridge this gap, the State plans to combine Central schemes with local projects to bring in more money.

Overcoming Investment Hurdles

Mr. Chandrasekhar said that local bodies, banks, co-operatives, private investors, and non-resident workers must work together to tackle unemployment and boost farming and factory output. He noted that red tape and delays slow down investments, citing one ₹350-crore project that was stuck for three and a half years due to a panchayat secretary. Rules are now being changed to clear such roadblocks. Local bodies are urged to host investor meets, and rules will change so block and district panchayats can run large projects together.

Project Monitoring

Projects under the new plan will use the SMART framework, meaning they must be specific, measurable, achievable, result-oriented, and time-bound. The Indian Institute of Management - Kozhikode is helping with this approach. Kerala Digital University is also upgrading the 'Planspace' software used to track projects. The Planning Board now has a divisional chief for every two districts to check project progress more often.

Context

Five-Year Plans serve as structured roadmaps for regional economic growth, helping governments set financial targets and coordinate development across various sectors. Local self-government bodies play a vital role in executing these plans directly within communities across India.