Kerala Budget 2024: Chinese model will be adopted for state's development, says FM KN Balagopal
Kerala Budget 2024: Finance Minister KN Balagopal said the government would adopt the Chinese model to develop the state.
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FollowThiruvananthapuram: Finance Minister KN Balagopal said in his budget speech on Monday (Feb 05) that the Chinese model will be adopted for development. The finance minister said that Kerala could adopt the development model adopted in China in 1970. A development zone will be brought for this. A special development zone will be brought to include non-resident Malayalis. The Minister is presenting the budget in the Assembly.
According to him, Kerala has been leading the country and has been making steady progress. The minister further attributed Kerala's financial woes to the Center's economic policies and alleged disregard for the southern state. With the Lok Sabha elections coming up, the budget presentation is important.
Some of the top announcements so far:
1. Kerala will be transformed into a medical hub.
2. Investment over Rs 3 lakh crore expected in next 3 years.
3. The government plans to foster new-age investments, startups
4. 1,000 cr investment exclusively for Vizhinjam; Port to be open in May.
5. Private and expat investors will be given more opportunities.
6. Metro projects in Thiruvananthapuram and Kozhikode
7. Will continue the discussion with the Centre for SilverLine project
8. Tax revenue doubled over 4 years.
9. Expenditure increased by Rs 30,000 crore
10. APJ Abdul Kalam Technological University: Rs 71 cr for headquarters; 3 centres of Excellence
11. Digital University: Outlay of Rs 250 cr; 3 regional centres; Rs 10 cr for the scholarship fund
12. Rs 10 cr earmarked for Startup Mission-Work near home scheme; 50,000 new opportunities via Startup Mission
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