Kerala Finance Minister K N Balagopal on Friday presented the budget for the 2022-23 financial year in the legislative assembly.
Balagopal laid the state Budget 2023 in the legislative assembly today and began his speech.
This Budget marks the third by Balagopal after he took over as the state's Finance Minister.
The Budget allocated Rs 2000 crore to check inflation. Despite being a consumerist State Kerala was able to control price hikes and the state witnessed the lowest price rise in the country, Balagopal said.
Petrol, diesel prices will be increased by Rs 2 per litre in Kerala, said the finance minister.
The minister said that Centre's assistance to the state has been reduced and a financial crunch is expected this year.
The finance minister said that though state government is facing challenges due to the Central government's financial policies he assured that Kerala is not in debt and that State has the financial position to take more loans.
The budget allocated Rs 3400 crore to the KSRTC.
The Finance Minister announces a special Research and Development budget as part of the thrust towards creating knowledge economy.
Balagopal said the State has been making efforts to retain the youth in the State and minimise their migration to other countries.
"Young people going abroad for education and employment and settle abroad. This requires central expression schemes. The government spends Rs 50,000 per student per year. Second generation development activities require the State government will make youth to stay in the state by creating better living facilities and new job opportunities," the minister said.
The finance minister said that setting up a digital Science Park in Technopark, in the state capital Thiruvananthapuram will be over by May and said that construction of an IT park in Kannur will begin this year.
The minister said that Rs 1000 crore will be allocated for the 'Make in Kerala' during the project period. Rs 100 crore has been earmarked for next year.
Budget allocated Rs 300 crore for waterway development and Rs 133 crore has been allocated for development of 1933 km of highways in Kerala.
Rs 10 crore has been allocated for implementing work from home model in the tourism sector.
Pointing out that there is a huge demand for nursing profession, he said that the ne nursing colleges will come up in Idukki and Wayanad medical colleges, as well as the taluk hospitals and general hospitals in the State, the minister said.
In the first stage, colleges will begin with attached to 25 hospitals and that Rs 20 crore has been set for this purpose. The minister said Rs 1000 crore rupees has been allocated for health tourism and to make Kerala the health care capital.
The cess at the rate of Rs 20 for one litre of Indian-made Foreign Liquor (IMFL) priced between Rs 500 to Rs 999. Rupees 40 on IMFL priced above 1000
Balagopal said that the government has identified 64,006 extremely poor families in the state and the government has prioritised poverty eradication in the budget.
On Thursday Balagopal presented the pre-budget economic survey for FY 2021-2022 in the assembly. (ANI)