THIRUVANANTHAPURAM: Finance Minister K N Balagopal said the interim Union budget 2024-25 was disappointing, and did not have any proposals to stimulate the economy. It is a copy of the previous year’s budget, he told reporters in Thiruvananthapuram on Thursday.
Balagopal said the budget was discriminatory. “Kerala did not get any allocations under the capital investment scheme. The state’s proposal to include the Vizhinjam project under the scheme was not considered. Though the allocation for the state has come down, it will not affect the state budget,” he said.
Balagopal said the budget did not shed light on the actual financial position of the country. Around 36% of the Rs 48 lakh crore worth expenditure proposed in the budget is to be funded through borrowings. The Union government’s borrowings exceeded the prescribed limit and it is 5.8% of the GDP in the current financial year. Still, the Centre is blaming the state which borrows just 3% of its GSDP.
The budget does not have proposals to rein in inflation, and solutions for the problems being faced by farmers. Though the government promises “guarantee” for farmers, the actual allocation has come down. It does not have schemes to revive the economy. The allocation for public sector enterprises came down. Kerala’s demands on Silver Line and AIIMS were not considered. Kerala did not get a fair deal in the railway sector as well.
‘New GST bill does not encourage online gaming’
Finance Minister K N Balagopal on Thursday said the government’s new GST amendment bill was not aimed at encouraging gambling and online rummy, but was a consequence of the decision taken in the 50th GST council meeting. He was replying to Congress MLA Thiruvanchoor Radhakrishnan during a discussion in the assembly.