Two days after the Union Budget, the government of Kerala has announced its budget for the year 2023-24. Kerala Finance Minister KN Balagopal said that among the development projects, an additional Rs 1000 crore will be set aside for the Make in Kerala project, aimed at making the state independent by promoting small and medium industries. The work for Kannur IT park will also begin this year. "By creating better facilities and more employment opportunities, the youth will be encouraged to stay in the state," Minister Balagopal said. Here are a few highlights from the budget speech on Friday, February 3:
> An amount of Rs 100 crore is for K-FON, the state's project to bring affordable internet to everyone, and Rs 125.2 crore has been set aside for the Startup Mission, which is to nurture new startups and entrepreneurs. The Information Technology sector will get Rs 559 crore.
> An amount of Rs 10,000 crore will be used as initial investment for the Kochi-Bengaluru corridor, with Bengaluru being a hub of tens of thousands of IT professionals from Kerala.
> Rs 1000 crore will be used for Vizhinjam Ring Road, as part of the port development, through the Kerala Infrastructure Investment Fund Board (KIIFB). Another Rs 1000 crore has been marked for acquiring land for the Vizhinjam-Thekkada-Mangalapuram industrial corridor. In addition, Rs 300 crore is allocated for Kovalam-Bakel waterway.
> More than Rs 971 crore has been set aside for the agricultural sector. Another Rs 321.31 crore will be used for the fisheries sector.
> The government's ambitious Life Mission, to build homes for the poor, has been allotted Rs 1436.26 crore for the work this year.
> For Kudumbashree, the state's 25-year project connecting a large network of women for empowerment and poverty eradication, an amount of Rs 260 crore will be used for its various programmes.
> Suchitwa Mission, aimed at waste management, has been allocated Rs 35 crore. An amount of Rs 525.45 crore is for irrigation projects and Rs 140.5 crore for the cooperative sector.
> An amount of Rs 30 crore is earmarked for the Sabarimala master plan, and another Rs 10 crore for Erumeli master plan.