THIRUVANANTHAPURAM: The state budget 2022-23, presented by Finance Minister K N Balagopal in the Assembly on Friday, has earmarked Rs 2,000 crore to arrest price rise and ensure food security in the state. In tune with the LDF government's aim to transform the state into a knowledge economy, Information Technology (IT), skill development and higher education sectors have received a major boost in the state budget.
Balagopal's maiden full budget has set apart Rs 1,000 crore for acquiring land for the development of various IT parks.
Another Rs 1,000 crore has been earmarked for setting up four science parks in the state. Four new IT corridors will come up parallel to NH66 and new IT parks in Kannur and Kollam are other highlights. Rs 100 crore has been earmarked for basic infrastructure development in the IT sector
In the higher education sector, a total of Rs 200 crore has been earmarked through the Kerala Infrastructure Investment Fund Board (KIIFB) to provide assistance of Rs 20 crore each to 10 universities. While Rs 100 crore has been earmarked for the development of 1,750 hostel rooms adjacent to universities, another Rs 20 crore will be provided to the varsities to start new courses.
An allocation of Rs 350 crore for setting up skill parks in all districts, funds for start-ups in universities and support to the varsities to start new short-term courses are other highlights. Balagopal also said the state will take the lead in ensuring 5G connectivity in the state and integrate it with the K-Fon network.
With a total outlay of Rs 851 crore, the agriculture sector has also received major support in the budget. Rs 500 crore will be set apart for rubber subsidy. The state will take steps to increase the production and use of rubber, the Finance Minister said. Agri-tech facilities will be set up in all districts at a cost of Rs 175 crore.
The state's ambitious Silverline semi high-speed rail project will get Rs 2,000 crore. The amount will be used for land acquisition for the project. Road infrastructure development has also received a major shot in the arm in the state budget. Rs 1,500 crore has been allocated for the development of MC Road and Kollam-Shencotta road.
The proposed outer ring road project in Thiruvananthapuram will receive Rs 1,000 crore for land acquisition.
The budget has set apart a total of Rs 1207.23 crore for the development of roads and bridges. Rs 200 crore will be allocated to tackle traffic blocks in the 20 busiest junctions in the state. Another Rs 200 crore will be earmarked for constructing six bypass roads.
The tourism sector has also received an increased allocation of Rs 362 crore, of which Rs 82 crore wil be set apart for marketing initiatives. Funds have also been allocated to promote beach tourism and cruise tourism and to set up airstrips in the hilly districts of Idukki and Wayanad. The Champions Boat League event which draws a large number of tourists will be re-started.
OTHER HIGHLIGHTS
Allocation of Rs 12,903 crore for Local Self-governments.
Housing projects under Life Mission to get Rs 1771 crore.
Rs 1600 crore for various works under Rebuild Kerala Initiative.
The health sector allocated Rs 2,629 crore.
Special cell in Norka department to assist students who returned from war-torn Ukraine.
Milk and egg to be provided to children twice a week in Anganwadis.
Five-year plan for waste management in the state.
TAX PROPOSALS
Green tax on old vehicles increased by 50%.
Tax on motorcycles, priced below Rs two lakh, increased by 1%.
Tax slashed for caravans used for tourism purposes.
Land tax to be revised by implementing new slabs.
Fair price of land increased by 10%.