The Annual Plan of 17000 crore rupees for the year 2013-14 for Kerala State was finalized by the Deputy Chairman of Planning Commission, Montek Singh Ahluwalia and Chief Minister of Kerala, Oommen Chandy on 8 April 2013. The new plan size is 21 percent more than the previous year plan.
Kerala’s performance in the 11th Plan was commendable in almost all sectors including the social sector. The state took innovative steps towards implementation of the plans. In the 11th plan period the state grew at the rate of 8 percent and in the financial year 2011-2012 the rate of growth was 11.5 percent.
For the running financial year 2012-13, the target growth rate fixed by the state is 9.58%. In the latest budget plan the state is aimed towards encouraging the Students’ Entrepreneurship in the state and have made an allocation of 75 crore rupees under various heads to encourage the same. The implemented educational loan scheme of the state was designed to improve the employability skills of students. In context of agricultural development, the state government has demanded adequate loans at 7 percent interest through banks via NABARD to genuine farmers.