Kerala Finance Minister presents state budget 2022-23: Rs 10 crore allotted for students back from Ukraine

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.