Page 62 - economic review

MACRO ECONOMIC PROFILE34

(TIS) so that plan expenditure could be captured real time. This facilitates comparison of figures
reported by Departments with Treasury figures of expenditure. The system will be extended to
Districts and, later on, to the Sub District level. This will enable implementing officers at District and
Sub District levels to directly input data into the system, thus further enhancing its accuracy and
timeliness. At present 213 plan implementing Departments/IAs are inputting information to planspace
on a real time basis. As per the information available on planspace, during the current Financial Year
the total plan expenditure is 37% percent as on 31st December 2014 which is expected to improve
substantially by the end of the Financial Year.

1.97 As a further step towards making the monitoring mechanism more effective, it has been decided
to introduce digitised documentation of assets created in the Annual Plan. Photographs/images of
physical assets created with geographical cordinates will be uploaded to planspace using GPS,
IIITM-K (a Government of Kerala undertaking at Technopark, Thiruvananthapuram) has developed
an Android based mobile application for this. In the first phase, this will be introduced on a pilot mode
in Departments viz, Agriculture, Forest and Wildlife, PWD, Industries and Healthand family welfare.

Macro Economic Outlook for Kerala

1.98 Fiscal indicators of the State have suffered setbacks recently due to widening gap between
revenue receipts and revenue expenditure. The fiscal instability in recent years is the result of the
State economy being exposed to persistent macro-economic pressures. State’s revenue buoyancy
was severely impacted by the slowdown in all sectors of the economy. At the same time, the State
had to raise its public expenditure for the revival of the economy. Much will depend on good fiscal
management in the state in the coming years. Careful prioritisation of key public sector projects,
which could stimulate the economy by crowding in more investment from the private sector will be
required. This will help in creating more employment opportunities and in enhancing the ability of
the Government to collect both tax and non tax revenues in future. This will create the fiscal space
for Kerala to further improve capital asset creation as well as provide for new and emerging health,
education and social justice concerns.In Kerala, the major problems that need focussed attention
include ageing population and their welfare; high density of population, rapid urbanisation and related
concerns such as adequate housing, waste management, transport and employment opportunities.
These have been dealt with in subsequent chapters. The State already enjoys high financial literacy
and can be encouraged to save and invest more if there are more value enhancing opportunities
in the state. The Perspective Plan 2030 envisages Kerala as a highly knowledge intensive State
where economic prosperity and high quality of life can be ensured along with equitable distribution of
income, wealth and opportunity and where our environment and cultural heritage is protected.

Kerala State Planning Board