THIRUVANANTHAPURAM: The finance department is abuzz with the preparation of the state budget for 2024-25 which is likely to be presented in the second half of January.
The department recently constituted a committee headed by a joint secretary to prepare the budget speech. The annual plan is being finalised by the state planning board. The final document has to be approved by the board chaired by the chief minister. The board meeting will be held after the conclusion of the Nava Kerala Sadas, most likely on December 27.
The planning board also brings out the Economic Review 2023 which will be released ahead of the budget presentation. The theme of the latest ER is ‘Social and Physical Infrastructure’. The government opted for an early presentation of the budget given the general elections.
There will be sufficient time for the post-presentation processes if the budget is presented in January. The presentation is followed by subject committee meetings, discussion and passing of the demand for grants spread over some weeks. If the budget is presented in February or March, the entire process cannot be completed before the general election.
In such a case, a vote-on-account would be the option available. The first full budget of the second Pinarayi Vijayan Government was presented on March 11, 2022, and the next on February 3, this year.