#Kerala Finance minister Thomas Isaac is presenting the state budget. The Finance Minister allocated Rs 2000 crore for coastal area development and promises to offer comprehensive health insurance to all in the state. Following are the highlights of budget speech:
On the Union Budget, CII president Shobhana Kamineni said relief in corporate income tax for companies with a turnover below Rs 250 crore will ease the burden of small enterprises. The 100 percent tax deduction to companies registered as farmer producer companies with turnover of Rs 100 crore is another big step that will boost the Operation Greens Mission of the union government
Puducherry vehicle registration: FM announces amnesty for rule violators
Government departments should not purchase new cars instead they should hire cars
Bevco has now been granted permission to sell foreign liquor
Rs 28 crore allocated for Sabarimala master plan
Rs 10 crore allocated for AKG memorial at Peralassery in Kannur.
Rs 8 crore allocated for Malayalam University which will come up at Tirur
Water authority department to be modernized, said Kerala FM
Measures to be taken to revive Kerala State Road Transport Corporation. Rs 3500 crore immediate loan sanctioned for KSRTC. KSRTC to be divided into 3 individual profit centres. The loan of Rs 3500 crore will be given by a consortium of banks. It will save Rs 60 crore per month on interest payments on short-term loans. KSRTC will buy 2000 new buses using KIIFB funds. Rs 1,459 crore allocated for building and repairing roads and bridges, Kerala FM.
A mobility hub similar to Vytilla in Kozhikode will come up soon
Rs 80 crore allocated for tourism sector
Rs 20 crore set aside for manufacturing cancer medicines and as much amount for setting up the cancer medicine factory
Rs 132 crore set aside for Kerala State Industrial Development Corporation. Rs 240 crore for various parks under KSIDC and KINFRA. The major project under this will be the petrochemical park at Kochi
Rs 100 crore allocated for man-animal conflict areas near forests.
Development and Innovation Strategic Council of Kerala (K-DISC) gets Rs 20 crore.
Rs 584 crore loan has been sanctioned to redevelop fishing harbors.
Rs 13.5 crore set aside for pollution control measures. Pamba action plan to be revived
Laptop and servers will be manufactured – a JV of Intel and Keltron – Rs 40 crore set aside for the project
Free WiFi will be provided for coastal areas
Wayanad coffee will be branded and marketed.
The land tax of 2015 restored, aims to garner additional revenue of Rs 100 crore. Additional revenue from land tax to be used for promoting farming
Rs 107 crore allocated for dairy development
Rs 50 crore set aside for startup mission
Rs 10 crore to promote organic farming.
Farmers in state are in severe crisis: FM said
Horticulture department gets Rs 350 crore. Rs 21 crore set aside for development of quality seeds
Rs 5 crore allocated for Waste Management Centre at Chandiroor
Wildlife conservation and forest department get Rs 244 crore. Rs 15 crore set aside for cattle feed subsidy
Two international expositions will be held in the financial year 2019 on rubber and coconut, aimed at developing the market
Coconut development board gets Rs 50 crore from the budget
Kerala Agro Business Company will be set up.
To revive the Khadi industry, Rs 19 crore has been allocated for khadi sector
Kerala Innovation Extension Project will be introduced
Bamboo Corporation gets Rs 10 crore. Bamboo craft training will get Rs 5 crore.
For transgender welfare schemes, Rs 10 crore allotted. State still has to go a long way to be transgender friendly, says Isaac
Bank loans of Rs 200 crore will be used for cashew procurement as a market intervention
Rs 12 crore allocated for skill development program. Rs 150 crore given for handloom uniform distribution in schools
Rs 2598 crore set aside for SC/ST community welfare.
Coir marketing company will be set up with the help of private sector.
Financial assistance for unwed mother raised to Rs 2000 per month
Centre failed to transfer state’s share of GST revenue: said, Isaac
Rs 5 crore allocated for Nirbhaya homes
All schools in coastal belt to be modernized
26 new budget schools to come up soon
Rs 10 crore has been allocated to panchayats for women safety, while Rs 50 crore has been allocated for women safety programs.
Rs 30 crore allocated for pension of cashew and coir workers
‘She lodge’ will be set up in Kochi, also studio apartments for women. Rs 25 crore for setting up women’s hostels and short stay homes in all 14 districts
Contributory pension scheme for those who left out in social security schemes: FM
Public toilets to be set up for women.
Rs 50 crore sanctioned for women safety
40,000 smart classes will be set up in 4,775 schools
Rs 1 crore allocated to renovation fund for schools with more than 500 students
Rs 12 crore for setting up centre of excellence at the Gender Park
Rs 50 crore sanctioned for endosulfan victims. Also, fund from Kasaragod package will be utilized for the benefit of the affected people.
Aid to special schools run by NGOs hiked from Rs 13 crore to Rs 40 crore
Rs 10 crore set aside for differently-abled, safe homes to be set up in all districts
Rs 17 crore allocated for the mental healthcare sector, while Rs 289 crore allocated for schemes related to physically challenged people.
Social security pension will be denied to those paying income tax or got a house of more than 1200 sq ft, or has 2 acres of land, says FM
Uber-model ambulance services to be launched across the state, says FM
Rs 3 crore to be given to schools with more than 1000 students – those schools left out will be included in this project. Rs 100 crores to facilitate primary and upper primary schools with computer labs
Rs 35 crore allocated to improve the academic standard in schools. Rs 50 lakh to Rs 1 crore will be given to schools with more than 500 students for upgradation
Comprehensive health insurance will be offered to all in Kerala. This will be done through the inclusion of everyone to the various insurance schemes. Prevention, proper medical help and palliative help will be the three factors of healthcare project of Kerala
Rs 15 crore allocated for making the state patient-friendly
All district hospitals to have cardiology units
Malabar cancer center in Thalassery to be elevated to the standard of RCC
RCC standard cancer center at Kochi to be set up soon
Dialysis centers have already been set up in all taluk hospitals
Oncology department will be set up in all medical colleges. Trauma care facility will be set up in all taluk hospitals
Hiring in medical field is going on – 558 doctors, 1385 nurses and 876 para-medical staff already hired
Rs 2500 crore has been allocated for Livelihood Inclusion and Financial Empowerment (LIFE) housing project. Flats at a cost of Rs 10 lakh and houses at a cost of Rs 5 lakh will be built under the LIFE project
One day old chicken will be supplied to farmers at a cost of Rs 30 – 35 per chick
Through Kudumbashree, chicken farming will be done through all panchayats – for this, the parent stock of chicken will be raised to 50,000.
Selected ration shops to be converted to margin free shops
Rs 31 crore allocated for food safety – mainly for upgrading the ration shops
We have not abandoned social security projects
NRI chit funds will start from April onwards
KIIFB funds will also help to contain the impact of returning migrants from the Middle East.
KIIFB will raise further funds from the financial markets through general obligation bond, land bond and revenue bond
Ockhi relief: Coastal hospital to be refurbished, said Isaac
Fiscal deficit for the financial year 2019 will be 3.1% of the GSDP and revenue deficit for the financial year 2019 will be 1.6% of GSDP
The decline in revenue receipts has affected the state. Revenue receipts grew only by 8.2%, said, Isaac
Rs 150 crore has been allocated for rehabilitation of families within 50 meters of the coastal area
The total repayment of KIIFB will be Rs 1 lakh crore over a time period of 9 years at 9% interest rate.
A satellite-based warning system will be set up at a cost of Rs 100 crore for coastal areas.
KIIFB funding will be given to the coastal hospitals and harbors too
Rs 2000 crore has been allocated for coastal area development. This includes Rs 600 crore funding through Kerala Infrastructure Investment Fund Board (KIIFB)
Finance Minister T M Thomas Isaac reaches state assembly with budget documents. Budget presentation to begin at 9 AM
Earlier, on January 31, the Congress-led UDF had demanded tabling of a white paper on the financial situation in Kerala and walked out of the Assembly after its adjournment motion for a discussion on it was turned down.
However, the financial situation was set to improve as restrictions on borrowings had been withdrawn by the Centre following discussions, the minister said.
Revenue was expected to go up after implementation of the GST, but that did not happen, Isaac said, adding, after the Centre imposed restrictions on borrowings, the situation worsened.
The temporary crisis was due to the gap in revenue and expenditure. While expenditure increased by 22 percent, revenue went up by only 7.6 percent, Isaac said.
Kerala Finance minister Thomas Isaac has said development activities have not come to a standstill as was being alleged by the opposition.