Kerala Budget: “Build a New Kerala”

Finance Minister KN Balagopal has announced major proposals to rebuild a new Kerala while presenting the annual budget here on Friday. It is the first full budget and the second budget of the second Pinarayi Vijayan Ministry. The minister informed that Rs 2000 cr will be raised to control price hike of basic commodities and ensure food safety. The budget focuses on the development of Kerala within 25 years. Finance Minister KN Balagopal, in the first complete budget of the second Pinarayi Vijayan government, announced that Rs 200 cr will be granted to universities in the state from KIIFB.

Each university will get Rs 20 cr. In the budget speech, the minister pointed out that Kerala has survived the hurdles posed by the COVID crisis. He also hinted that the Russia-Ukraine war is likely to influence the economy. The new budget aims to rebuild a new Kerala. Four IT corridors will be established in Kerala, informed finance minister KN Balagopal while presenting the state budget here on Friday. He also announced that a new IT park will be opened in Kannur. Finance Minister also announced 25 eco-friendly tourist hubs will be introduced in the state within 5 years. Rs 10 crore will be allotted for the development of the Eco-Tourism sector.

Special projects will be implemented in Kochi to promote more tourists. Rs 180 crore will be allotted for Kochi Water Metro.  Rs 5 crore will be set aside for the cruise industry. Interest-free loans will be introduced in the tourism sector. Rs 12 crore will be allotted for the champions boat league. Rs 27.93 crore will be earmarked for State Water Transport Department. A major project to clean water bodies in the state will be implemented. Rs 20 crore will be set aside for cleaning Ashtamudi Lake and Rs 4 crore for the protection of Sasthamcotta Lake.

 

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