Boost for IT sector in Kerala Budget with focus on 5G networks, tech corridors

There are unique favourable factors which will help Kerala reach the forefront of the 5G revolution, said Finance Minister Balagopal

Published: 11th March 2022 03:53 PM  |   Last Updated: 11th March 2022 03:53 PM   |  A+A-

Finance Minister K N Balagopal gives finishing touches to the budget at the Government Guest House in Thiruvananthapuram on Thursday | B P Deepu

By Express News Service

THIRUVANANTHAPURAM: The Kerala budget presented by Finance Minister KN Balagopal has given due importance to the state's IT sector, with the focus on the futuristic 5G networks. Balagopal said the government will initiate expeditious steps to bring the 5G system to the state and rapidly move forward in the service sector. There are unique favourable factors which will help Kerala reach the forefront of the 5G revolution, he said.

The other major announcement was the infrastructure development of the IT sector. As part of it, the minister announced that four IT corridors will be made parallel to the existing NH 66 as part of decentralising the IT sector in the state. The corridors will have four lanes. The IT corridors are Thiruvananthapuram Technopark phase-III-Kollam, Koratty-Ernakulam, Ernakulam-Cherthala and Kozhikode-Kannur.

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He also announced a new IT park to be constructed at Kannur. For the IT corridor extension, an IT facility covering an area of 5,00,000 square feet will be set up in Kollam. Satellite IT parks will be established over 15-25 acres of land which will be purchased at premium rates through land acquisition on the proposed corridor having easy access via NH 66 from Ernakulam, Kozhikode and Technopark Phase III. In addition, 20 small parks with an area of 50,000 to 2 lakh sq.ft are intended to be built in the acquired land.

An amount of Rs 1000 crore has been earmarked from KIIFB land acquisition pool for acquiring land to set up IT parks in Kollam, Kannur and parks in other areas. Construction of the parks will commence as and when the required land is acquired, Balagopal said.

As part of developing basic infrastructure facilities for the IT sector, Technopark, Technocity, Infopark and many other IT centres will be expanded. An amount of Rs 100 crore will be additionally provided for the project through KIIFB so that necessary infrastructure facilities for the purpose can be developed. The minister also said that the concept of work near home is gaining acceptance. As part of it, Rs 50 crore is earmarked for this purpose.

Kochi Infopark gets a higher fund allocation of Rs 35 crore while Technopark in Thiruvananthapuram gets Rs 26 crore, Balagopal announced in the state budget 2022-23.



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