THIRUVANANTHAPURAM: The state planning board on Monday published the draft of the 14th Five Year Plan, which will cost Rs 2.15 lakh crore, aimed at making comprehensive progress in the social and economic sectors of the state, including the Silver Line project.

Its peculiarity is that it seeks massive privatization in the agricultural value addition scheme and the agricultural sector and the formulation of a new mining policy. The implementation of the scheme is expected to increase the state's GDP by 10 per cent in the two years to 2024 and 11 per cent in the next three years.

At the same time, the state will have to face a huge financial crisis to implement the project. As per the draft, this crisis will increase in the coming years. The revenue deficit grant provided by the 15th Finance Commission will be phased out by 2023-24. GST compensation may be phased out by June. The state's borrowing limit will be reduced to 3 percent by 2025-26. The draft notes that in this situation a new approach to sustainable economic development will have to be adopted.