Kerala budget proposes Rs 3 lakh crore private investment over next three years

It has stressed on private investment mainly in education, tourism and industrial sectors, with plans to ensure investment of Rs three lakh crore over the next three years.
Kerala Finance Minister KN Balagopal presenting the state budget in the Assembly on Monday
Kerala Finance Minister KN Balagopal presenting the state budget in the Assembly on Monday(Photo | Express)

THIRUVANANTHAPURAM: Kerala Finance Minister KN Balagopal presented the state budget for 2024-25 in the Assembly on Monday.

It has stressed on private investment mainly in education, tourism and industrial sectors, with plans to ensure investment of Rs three lakh crore over the next three years.

Presenting the budget, Balagopal said 'out of the box' policies will be adopted to tide over fiscal constraints. Accusing the Centre of imposing an 'economic embargo' on Kerala, Balagopal said the state will have to devise a 'Plan B' if the situation continues.

Kerala Finance Minister KN Balagopal
Kerala Finance Minister KN Balagopal(Photo | Express)

The Finance Minister said the state government will continue efforts to implement the Silverline semi-high-speed railway project and further discussions will be held with the Centre. The Union government's nod for the metro rail project in Thiruvananthapuram was also expected soon, he added.

Major highlights

# Vizhinjam port to begin functioning in May. Efforts on to increase road, rail connectivity.

# Chinese-model Special Development Zones will be created in Vizhinjam.

# Rs 5,000 crore private investment expected in tourism sector

# Three centres of Digital University to be set up in the state

# 25 new private industrial parks to come up in the state

# State will be turned into a care hub for elderly persons. Care centres will be set
up with private investment

# Government will explore setting up campuses of foreign universities in the state

# Private universities to be allowed in the state

# Agriculture sector to get Rs 1698 crore; Rs 327 crore for fisheries sector

# Rs 430 crore for livelihood projects to be implemented through Kudumbashree mission

# Rs 128.54 crore for KSRTC; Rs 92 cr for purchasing BS-6 diesel engine buses

# Minimum support price of rubber increased to Rs 180 from Rs 170

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