Current Affairs PDF

Kerala Revised Budget 2021-22: FM announces INR 20, 000 Crore COVID-19 Package

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Finance Minister Balagopal announces Rs 20,000 crore Covid package

Kerala Finance Minister K N Balagopal presented the Revised Budget for the FY 2021-22. The budget includes INR 20, 000 Crore –  2nd COVID-19 revival package & an allocation of INR 1,000 Crore for free distribution of vaccines for all above 18 years.

  • This is K N Balagopal’s 1st Budget.
  • No New Tax proposals were announced.

Fiscal Indicators

  • Revenue Inflow – INR 1, 30, 981.06 Crore
  • Revenue Expenditure – INR 1, 47, 891.18 Crore
  • Revenue Deficit – INR 16, 910.12 Crore

Key Allocations

  • INR 5,300 crore for coastal protection and coastal infrastructure development, out of which
  • INR 1500 Crore for 1st phase conservation of fragile coastal areas.
  • INR 1500 Crore for 1st phase conservation of fragile coastal areas.
  • INR 2000 Crore worth of loans for agricultural sector
  • INR 2000 Crore has been set aside for primary cooperative societies
  • INR 1000 Crore loans for Kudumbashree neighbourhood groups
  • INR 100 Crore as part of COVID-19 package to Kudumbashree
  • A Special package of INR 3 lakh to be given as immediate relief and a monthly sum of INR 2, 000 to be issued to children orphaned due to COVID-19.

Knowledge Economy Mission

During the budget, the minister also announced the launch of the Knowledge Economy Mission to provide employment to educated and support ‘knowledge workers’.

  • The initiative was led by Kerala Development and Innovation Strategic Council (K-DISC).
  • The budget has allocated INR 300 Crore for the implementation of the scheme.

Recent Related News:

On January 15, 2021, Kerala’s then Finance Minister Thomas Isaac presented the State Budget for the Financial Year (FY) 2021-22. The Budget has set a target to create 8 Lakh jobs in 2021-22.

About Kerala

Chief Minister – Pinarayi Vijayan
Governor – Arif Mohammad Khan
Capital – Thiruvananthapuram