Kerala Budget 2024: Rs 1,000 crore boost for "Navakerala Sadass" projects, focus on tourism, K-Rail, education
Feb 05, 2024
Thiruvananthapuram (Kerala) [India], February 5 : Kerala Finance Minister K. N. Balagopal presented the Kerala Budget 2024-25 today, outlining a vision for a "New Kerala" while criticizing the central government's "hostile approach" that he claims has pushed the state towards financial crisis.
Balagopal launched a scathing attack on the central government, accusing it of causing financial hardship for Kerala. He asserted that the state wouldn't remain silent and urged unity to build a "Navakeralam."
" Instead, we should strive forward with the strong sentiment of "Thakarilla Keralam, Thalarilla Keralam, Thakarkkanavilla Keralathe" ("Kerala will not be shattered, Kerala will not tire, Kerala cannot be destroyed"). The Government will provide leadership in taking forward our achievements and progress while ensuring that all Keralites stand united in building a New Keralam (Navakeralam)." K. N. Balagopal said this in the assembly.
The budget proposes a 10 rupee per litre hike in excise duty on liquor, raising concerns for consumers. Additionally, electricity duty for self-generated power will rise by 15 paise per unit.
The budget allocates 1,000 crore for projects proposed during the outreach program "Navakerala Sadass." Tourism receives a significant boost, with 5,000 crore earmarked for development.
The much-awaited Vizhinjam port is set to be operational by May 2024. The government plans to create Special Development Zones (SDZs) in partnership with the private sector to leverage the port's potential. An International Investors Meet and Maritime Summit are planned to attract investments.
The budget reaffirms the government's commitment to the K-Rail project and light metro projects in Kozhikode and Thiruvananthapuram.
Public education receives a 1,032 crore allocation, highlighting the government's commitment to the sector.
The budget also encourages private investment across various sectors. While the budget doesn't increase welfare pensions this year, the minister promised to clear pending dues in the next financial year, blaming the central government for the delay.
"An International Investors Meet will be conducted in 2024-25 itself to attract investors who can start enterprises that will harness the potential of the Vizhinjam port. A Maritime Summit will be organized as part of this," K. N. Balagopal said.
