Kerala’s economy recorded “steady growth” in 2022-23 with the Gross State Domestic Product (GSDP) clocking 6.6% growth at constant prices, according to the Economic Review tabled in the Kerala Assembly on February 2 (Friday).
Compared to 2021-22 when Kerala recorded the highest growth in a decade in a post-COVID-19 recovery spurt, the growth rate appears to have settled in 2022-23. The GSDP had clocked 12.97% growth in 2021-22. But the two years cannot be realistically compared, senior Planning Board officials said. This is because the higher growth rate in 2021-22 was from a pandemic-induced, low base of -8.43% negative growth the previous year.
In 2022-23, Kerala’s economy posted positive growth for the second consecutive year after the pandemic. The Economic Review noted that this has been achieved in the face of “financial constraints and adversities.”
