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Kerala Finance Minister KN Balagopal Presented State budget 2022-23

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The Finance Minister of Kerala, Kalanjoor Narayana Panicker Balagopal, presented the Kerala state budget 2022-23 which provided a big boost to the Information Technology (IT), Industries & Infrastructure Sector. It is Kerala’s first paperless budget.

Key Allocations:

i.IT: Rs 1,000 crore proposed for acquiring land for the development of various IT parks. Another Rs 1,000 crore has been earmarked for setting up four science parks in the state. 

  • Four new IT corridors will come up parallel to NH66 and new IT parks in Kannur and Kollam are other highlights. Rs 100 crore has been earmarked for basic infrastructure development in the IT sector.
  • Rs 2,000 crore earmarked to arrest price rise and ensure food security in the state.

ii.Higher education: A total of Rs 200 crore has been earmarked through the Kerala Infrastructure Investment Fund Board (KIIFB) to provide assistance of Rs 20 crore each to 10 universities.

  • Rs 100 crore has been earmarked for the development of 1,500 hostel rooms adjacent to universities, another Rs 20 crore will be provided to the varsities to start new courses.
  • An allocation of Rs 350 crore for setting up skill parks in all districts.

iii.Agriculture: With a total outlay of Rs 881.96 crore, the agriculture sector has also received major support in the budget. Rs 500 crore will be set apart for rubber subsidy. 

  • Agri-tech facilities will be set up in all districts at a cost of Rs 175 crore.  

iv.Railway: Silverline semi high-speed rail project will get Rs 2,000 crore. The amount will be used for land acquisition for the project.

v.Roads: Rs 1,500 crore has been allocated for the development of MC Road and Kollam-Shencotta road.

  • The proposed outer ring road project in Thiruvananthapuram will receive Rs 1,000 crore for land acquisition.  

vi.Tourism: It received an increased allocation of Rs.362.15 Crore.

vii.Health: It allocated Rs.2629.33 Crore.

Other Proposals:

i.Rs 12,903 crore for Local Self-governments

ii.Rs 1871.82 Crore for Housing projects under Life Mission 

iii.Rs 1600 crore for various works under Rebuild Kerala Initiative.

iv.Special cell in Norka department to assist students who returned from war-torn Ukraine.

v.Milk and egg to be provided to children twice a week in Anganwadis.

vi.Five-year plan for waste management in the state.

Tax Proposals:

i.Green tax on old vehicles increased by 50%.

ii.Tax on motorcycles, priced below Rs two lakh, increased by 1%.

iii.Tax slashed for caravans used for tourism purposes.

iv.Land tax to be revised by implementing new slabs.

v.Fair price of land increased by 10%.

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About Kerala:
Governor– Arif Mohammad Khan
Airport– Kannur International Airport, Calicut International Airport;
Ramsar Sites– Vembanad-Kol Wetland, Sasthamkotta Lake