THIRUVANANTHAPURAM: Kerala State Budget 2023-24 is bein presented today , February 3, by Finance Minister K. N. Balagopal in the State assembly. Kerala is facing an unprecedented fiscal crunch and the finance Minister  Balagopal’s second full budget will be closely watched on how it can walk a tightrope between fiscal discipline and providing for development as well as social welfare.

Although the State's economy and tax revenue have grown, the Economic Review report that was presented to the Assembly on February 2, 2023 also stressed that Kerala cannot afford any lapses in revenue mobilisation because expenditures have also increased.

Moreover, the budget must take into account the fiscal policies of the Central Government, particularly the reduction of the Revenue Deficit Grant by Rs. 8425 crore in 2023–24 compared to the current fiscal year and an additional loss of Rs. 12,000 crore from the end of the Goods and Services Tax (GST) compensation, both of which will have an impact on the budget.

KERALA BUGET LIVE: Rs.321 crore for fisheries - Budget allocates Rs.320.64 crore animal husbandry, Rs.114.76 crore for dairy development and Rs.321 crore for fisheries sector.

Fisheries Innovation Council to be set up in Kerala: The Finance Minister announced the setting up of a Fisheries Innovation Council. The Fisheries department, industries dept, Kerala Development and Innovation Strategic Council (KDISC), and other stake holders to be part of it.

Rs.1 crore has been allocated for the formation of the council.

Clean ocean program for Rs.5 crore: The FM announced Rs.5 crore for the Clean Ocean Program. This will be further done with the assistance of the fishing community.

Many projects in the past have been formulated in the State to help the growth of the marine community.
Rs.68.9 crore for coconuts and Rs.95 crore for paddy: Rs.68.9 crore has been allocated for coconut sector and Rs.95 crore for paddy sector.

Dairy park under to be developed at Rs.10 crore: The dairy park under the Kerala Livestock Development Corporation will be developed at an investment of Rs.10 crore, the FM announced.

Rs.972 crore allocation for agriculture sector, Rs.10 crore for modernization of fishing boats, Rs.74.50 crore for marketing of agricultural crops.

The FM allocates Rs.972 crore for the agriculture sector. He also allocates Rs.10 crore for the modernization of fishing boats in Kerala. The FM has also announced the allocation of Rs.74.50 crore for the marketing of agricultural crops.

The Budget is going on, which will be updated.

Kerala Budget presentation on February 3

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