Kerala budget 2022 highlights

Kerala Finance Minister K.N. Balagopal presented the budget in the Assembly at 9 am

Finance Minister K.N. Balagopal presented the budget for the financial year 2022- 23 in the Assembly today at a time when the government faces a challenge in increasing revenue, spurring economic growth, and tackling the State’s mounting debt liabilities.

Mr. Balagopal accepted a printed copy of the budget from A. T. Shibu, Director of Printing, before the presentation of the State budget.

Speaking to reporters before setting out for the Assembly, Mr. Balagopal said: “It is a budget that lays the ground for Kerala’s long-term development. The budget aspires to tackle inflation and strives not to burden citizens. It is a complicated situation globally. The government hopes to do its best in the given circumstances. The budget emphasised infrastructure development to spur economic growth. Politics apart, I hope the opposition also supports the budget in the paramount interest of the State”.

In the run-up to the budget presentation, the media was awash with speculation whether Mr. Balagopal would ease the burden on COVID-19 hit households by slashing the State GST on fuel and putting on hold the proposal to increase power tariff. When asked whether he would soften the blow on household budgets and address the concerns of struggling families, Mr. Balagopal said: “You will know the full context of the budget soon”. In earlier interviews, Mr. Balagopal had also stressed the need for prudent spending and fiscal discipline.

Finance Minister read out budget proposals from a tablet. Speaker M.B. Rajesh said this was the first paperless budget presentation in the Kerala Assembly.

Here are the highlights:

The Budget for the fiscal year has been earmarked at ₹2000 crore to check price rise and ensure food safety.