Kerala budget lays foundation for major development works

THIRUVANANTHAPURAM: K N Balagopal, Minister of Finance, Government of Kerala, presented the state’s budget for the financial year 2022-23 in the Legislative Assembly on March 11. He commented that the budget lays the ground for Kerala’s long-term development. The budget aspires to tackle inflation and strives to not burden the citizens. He added that it emphasizes on infrastructure development to spur economic growth.

Kerala’s budget for the fiscal year has been embarked at Rs 2000 crore to check price rise and ensure food security. It gives a big push for the development sector by making major allocations in health, IT, infrastructure, transport, and tourism. Rs 150 crore has been set aside for the Water Metro project. According to Kochi Metro Rail Ltd, the project is to be launched soon. The budget also allocated Rs 200 crore for the Cochin International Airport Ltd.

The budget announced Rs 14.5 crore for the Cochin Cancer Research Centre and Rs 88 crore for the Regional Cancer Center in Trivandrum. Balagopal informed that the work on the first phase of the project will be inaugurated during the 2022-23 fiscal year. Rs 250 crore has been announced for developing the facilities at the medical colleges in the state. Moreover, Rs 100 crore has been allocated for medical innovation lab; Rs 5 crore for establishing centre of excellence in microbiology research; Rs 50 crore for Institute of Virology; and Rs 50 crore for Institute of Advanced Virology.

The budget proposes construction of a new IT park in Kannur. Rs 100 crore has been allocated for IT infrastructure development and Rs 1000 crore to acquire land for developing IT parks. Additionally, four science parks are to be established at a cost of Rs 1000 crore in the state. Rs 10 crore has been set aside to procure a Roll-on Roll-off (Ro-Ro) vessel and another Rs 10 crore for ‘Operation Breakthrough’ to contain waterlogging in Kochi. Ten key infrastructure development projects in the state, including the Kochi Metro and integrated urban regeneration and water transport system received an allocation of Rs 507 crore.

Rs 90 crore has been allotted for Startup Mission and Rs 28 crore for an electronic hub. The budget allocated Rs 350 crore to set up skill parks in all the districts of the state. In a bid to cut carbon emissions and minimize the impact of global warming and climate change, Balagopal announced that 50 per cent of the ferry boats in the state will be converted to solar powered. Subsidy of Rs 15,000 has been proposed for conversion of fossil fuel powered autos to electric. Rs 10 crore has been allocated to use in studies and promotion of re-use and recycling in the construction industry.