Thiruvananthapuram: The gross state domestic product (GSDP) of Kerala grew at 7.18% in 2017-18 as against 6.22% growth recorded in 2016-17, says the economic review report of the state planning board.The report, tabled in the assembly by finance minister Thomas Isaac on Wednesday, also claimed an impressive growth rate in agriculture and allied activities. The GSDP for agriculture and allied activities (livestock, forestry and logging and fishing and aquaculture) registered a growth rate of 3.64% in 2017-18 as against 0.02% in 2014-15, -5.10% in 2015-16 and 0.08% in 2016-17. The GSDP growth in the manufacturing sector was 9.2% in 2017-18 as against 7.8% in 2016-17.Kerala ranks first, along with Himachal Pradesh, in achievement of sustainable development goals with a score of 69 against the national average of 57. The state also ranks first in development goals related to health, education, and gender equality, it said.The report said there had been substantial reduction in absolute poverty but the state faced the problem of income inequality and deprivation among certain sections of scheduled tribe peoples and fisherfolk.On finances, it said unexpected policy shocks and natural disasters had led to a slowdown in tax revenue while the GST implementation glitches at the national level and the unfavourable rate apportionment between the Centre and the states had brought about a fall in the expected revenue. The additional revenue expenditure burden is expected to strain the state finances, especially in the light of special needs in the post-flood situation.It pegged the growth rate of own tax revenue (OTR) at 10.16% in 2017-18 as against 8.16% in 2016-17, saying it indicated that the slowdown in the sector since 2013-14 still continued.The major component of OTR is commodity taxes -- goods and services tax /value added tax and sales tax on petroleum and alcoholic liquor for human consumption, which accounted for 78.75% in 2017-18.The receipt from state’s OTR in 2017-18 was Rs 46,459.61 crore. Receipts from sales tax and VAT (Rs 24,577.81 crore) contributed 52.90% of the total OTR, followed by 25.85% from state goods and services tax (Rs 12,007.69 crore), 7.88% from taxes on vehicles (Rs 3,662.85 crore), 7.43% from stamp duties and registration fees (Rs 3,452.56 crore), 4.82% from state excise duties (Rs 2,240.42 crore), and 0.35% from land revenue (Rs162.16 crore). The growth rate of OTR in 2017-18 was 13.96%.

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