Thiruvananthapuram: Kerala Finance Minister K N Balagopal on Monday announced that the state government plans to bring in investment worth Rs 3 lakh crore in the next three years while blaming the BJP government at the Centre for its alleged neglect of Kerala for the southern state's financial problems. Balagopal made the statement on the floor of the assembly while presenting the state's budget for the financial year 2024-25.
The Kerala Finance Minister said that Kerala has been at the forefront in the country and was moving forward steadily. Though Kerala is ahead in many indicators like HDI and SDG, the state is lagging behind in basic infrastructure amenities, he said. Balagopal said that Kerala will not wait for Central government's aid and will implement land pooling scheme. Special development zones based on the Chinese model will be implemented in Vizhinjam, he said.
Vizhinjam port is the development gateway of Kerala and will start operating in May this year. In other highlights of the Kerala budget, Balagopal said that developing the National Highways will be considered a high priority. Along with Vizhinjam , NH 66 will also be completed soon, he said. He alleged that the Central government was ignoring Kerala's rail development adding that discussions will continue with the Centre to implement the Kerala High Speed Rail.
With regard to Kerala's tourism, the Finance Minister said that the sector is reviving after COVID-19 pandemic and the state will come up with “plan B if the central government continues its neglect”. The Finance Minister said that the state's tax revenue doubled in 4 years adding that the central government is awarding only 21 percent of the collected tax to Kerala, where it is 46 percent for UP. He said that Rs 250 crore will be allocated for Digital University in the state adding three centers of digital university will be started in Kerala.
“Those who pass out from Digital university will be eligible fora PHD in Oxford university. 25 new private industrial parks will be started. Rs 5000 crore investment will be attracted to develop the tourism sector,” he added. Balagopal said that Kerala, which was behind in basic infrastructure development, gained remarkable achievement in the last eight years of Pinarayi government. “The development thus achieved disappoints the detractors of Kerala. Kerala is a sunrise economy. We will not wait for aid from the centre.The Centre is pushing for economic sanctions,” he said.
He said that the stat is planning to promote sectors like Aerospace and Defence, AI and Robotics and other breakthrough technologies, Ayurveda, Biotechnology and Lifesciences, Design, Electric Vehicles, Electronic System Design and Manufacturing, Engineering Research and Development, Food Technologies, Hitech Farming and Value-Added Plantation Produce,High Value-Added Rubber Products, Logistics and Packaging, Maritime Sector, Nanotechnology, Pharmaceuticals, Recycling and Waste Management, Renewable Energy, Retail sector, Tourism and hospitality and 3D Printing for future development.
