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
