Kerala's Finance Minister K.N. Balagopal presented the budget for the financial year 2022- 23 in the Assembly today which is expected to offer solutions to trigger economic growth and generate employment in the wake of the pandemic-induced slowdown in the state.
The finance minister read out budget proposals from a tablet, which Speaker M.B. Rajesh referred to as the first paperless budget presentation in the Kerala Assembly.
As the Ukraine-Russia crisis continues and thousands of students have returned to India, the budget has allocated a sum of Rs 10 crore to assist the Kerala students who have returned from Ukraine. The Department of Non Resident Keralites' Affairs (NORKA) will be undertaking the task of coordinating with the students, state Finance Minister KN Balagopal announced.
As per reports, the finance minister has announced a package of Rs 2,000 crore to address inflation and ensure food security in the state.
While the FM set aside Rs 2,546 crore earmarked for the education sector, Rs346 crore was allocated for mid-day meals in schools alone. A sum of Rs 7 crore was demarcated for developing basic infrastructure in public schools.
Rs 15 crore was allotted for the education of specially-abled students.
In a major bid to boost the IT sector in the state, various packages have been announced. This includes the 'Work Near Home' project to ensure job opportunities for homemakers which have been allocated with Rs 50 crore.
The project is aimed at providing employment opportunities to educated women.
Four IT-Corridors would also be established spending Rs 1000 crore through the Kerala Infrastructure Investment Fund Board (KIIFB). The finance minister announced packages with the aim to give a push to the state in the 5G revolution.
Among the other highlights from the Budget include the government's plan to promote production of value-added products including light alcoholic beverages from agricultural products. Rs 2 crore was allocated for the research into the production of Ethanol from Tapioca in the budget.
The budget document also presents a revised estimate on outstanding liabilities. Economists predict that it would be higher than the previous estimate. The economic review will also be presented.
As per the 2021-22 budget, the government has an outstanding debt of Rs 3.27 lakh crore. It is 37.39% of the Gross State Domestic Production (GSDP).
The finance department has launched a web portal www.budget.kerala.gov.in for providing data on the budget. Kerala budget, a mobile application, has also been launched in this regard.
The budget has set apart a total of Rs 1207.23 crore for the development of roads and bridges.. Rs 200 crore will be allocated to tackle traffic blocks in the 20 busiest junctions in the state. Another Rs 200 crore will be earmarked for constructing six bypass roads.
The budget allocates Rs 350 crore for setting up skill parks in all districts, funds for start-ups in universities and support to the varsities to start new short-term courses.
Rs 10 crore has been allotted to Kerala students who returned to the state from war-torn Ukraine.
The Department of Non Resident Keralite's Affairs (NORKA) will open a special cell to help students, who returned from Ukraine, continue their studies and recover certificates.
The budget earmarks ₹117 crore for the coir sector, ₹16 crore for the Khadi sector, ₹113 crore for Kerala State Industrial Development Corporation (KSIDC)
₹260 crore has been earmarked to support various activities of Kudumbashree, a poverty eradication and women empowerment programme implemented by the State Poverty Eradication Mission (SPEM) of the Government of Kerala.
₹2 core announced for organising various programmes including seminars to ensure global peace.
Malayalam cinema museum to be set up.
Budget allocates Rs 1,201 crore for road works.
Budget allots Rs 76 crore for the development of paddy cultivation.
Rs 100 crore announced for protection of coastal areas and preventing soil erosion.