Lagatar24 Desk
Thiruvananthapuram, Feb 3: Kerala Finance Minister K N Balagopal presented the budget for the fiscal year 2022-23 in the Legislative Assembly on Friday.
The Finance Minister said the Budget has allocated Rs 2000 crore to curb inflation. Although Kerala is a consumer-oriented State, it was able to control price hikes and has witnessed the lowest price increases in the country. Petrol and diesel prices will increase by Rs 2 per litre in Kerala.
An amount of Rs 75 crore is earmarked for the development and improvement of State Highways. A total outlay of Rs 2,828.33 crores is set apart for Medical & Public Health Sector in 2023-24 fiscal. This allocation is Rs 196.50 crore more than that of the year 2022-23: Kerala FM pic.twitter.com/8ECg9KuG9m
— ANI (@ANI) February 3, 2023
The minister said the Centre’s support to the state has been reduced and a financial crisis is expected this year. The state government is facing challenges due to the Central government’s fiscal policies, but he assured Kerala has no debt and has the financial position to take more loans.
The budget also allocated Rs 3400 crore to the KSRTC.
The Finance Minister announces a special Research and Development budget as part of the thrust to build a knowledge-based economy.
Balagopal said the State has been making efforts to retain the youth in the State and minimise their migration to other countries.
“Young people going abroad for education and employment and settle abroad. This requires central expression schemes. The government spends Rs 50,000 per student per year. Second-generation development activities require the State government will make youth stay in the state by creating better living facilities and new job opportunities,” said the minister.
ALSO READ: Threatening mail sent to NIA, police; probe on
The setting up of the digital Science Park in Technopark at Thiruvananthapuram will be completed by May and the construction of an IT park in Kannur will begin this year.
The minister said that Rs 1000 crore will be allocated for the ‘Make in Kerala’ during the project period. Moreover, Rs 100 crore has been earmarked for next year.
The budget allocated Rs 300 crore for waterway development and Rs 133 crore has been allocated for the development of 1933 km of highways in Kerala.
The budget allocated Rs 10 crore to implement work from the home model in the tourism sector.
Pointing to the huge demand for the nursing professions, the minister said that the new nursing colleges will come up in Idukki and Wayanad medical colleges, and the Taluk hospitals and general hospitals in the State.
Balagopal also said that the government has identified 64,006 extremely poor families in the state and the government has prioritised poverty eradication in the budget.
Earlier on Thursday, Balagopal presented the pre-budget economic survey for FY 2021-2022 in the assembly.
