Giving thrust to ensure ‘health and food for all’ and avoiding taxation, a ₹20,000-crore package to tide over the crisis induced by the second wave of COVID-19, , ₹5,300-crore project for protecting the shoreline and upgrade of infrastructure, and ₹2,600-crore economy rejuvenation loan scheme, are the key features of the maiden Budget of the second Pinarayi Vijayan government.
Presenting the ‘Revised budget for 2021-2022” in the Assembly on Friday, Finance Minister K.N. Balagopal said ₹2,800 crore would be provided for meeting health emergencies, ₹8,900 crore for providing money for those rendered jobless, and ₹8,300 crore for various loans and interest from the second COVD-19 package.
In addition, ₹1,000 crore had been provided to give free vaccination for everyone aged above 18 years. An additional ₹500 crore would be made available to buy related equipment and facilities for free vaccination.
The ₹2,968-crore Health Grant for the next five years from the 15th Central Finance Commission would also be available for the local bodies to curb the pandemic. The aim was to reduce the impact of the pandemic and ensure there was no third wave of the COVID-19 in the State.
The Finance Minister said this was the only way before the government to save lives of people, ensure health of the people, and to revive the economy.
Mr. Balagopal, who presented his maiden budget, said all the proposals in the budget presented by his predecessor T.M. Thomas Isaac on January 15 and the promises made in the LDF manifesto would be implemented. “There are financial constraints that we are all facing due to the pandemic. We will stand with the people and fulfil the promises,” he said.
Under the Economic Rejuvenation Loan scheme, the Cooperatives Initiative for Agriculture Infrastructure in Kerala, ₹1,600-crore loan will be made available for starting new ventures in agriculture, industries and service sectors this fiscal and ₹1,000-crore loan for Ayalkootams under Kudumbashree with 4% up to ₹4 lakh. Interest would be borne by the State and ₹100 crore had been allocated for the same.
A Venture Capital Fund would be set up with ₹100 crore for the growth of small and medium enterprises and start-ups. A Knowledge Economy Mission would be created and allocation for Knowledge Economy Fund had been enhanced from ₹200 crore to ₹300 crore. In the Industries sector, MSMEs would get loans at less interest and ₹2,000 crore was to be made available. More employment opportunities would be created through MGNREGS and Ayyankali urban employment schemes.
The government would give ₹30 crore as its share for the rejuvenation package to be worked out for the tourism sector. In addition to the ₹100 crore, ₹50 crore had been given additionally for marketing to attract tourists to the State in the post-pandemic period. Mr. Balagopal also announced setting up a Malabar Literary Circuit and a Biodiversity Circuit.
The KSFE would distribute two lakh laptops to students and this would be provided in a time-bound manner. A commission would be set up to study restructuring of the higher education sector and to submit a report in three months.
Rubber subsidy arrears would be paid fully. Value-added products would be made from fruits. Ten hydrogen-powered buses for KSRTC, more allocation for KSRTC to go in for CNG buses, loans with less interest for 10,000 electric two-wheelers and 5,000 autos, and setting up of the Centre for Renewable Energy, figure in the budget. Memorials for former Ministers K.R. Gouri, R. Balakrishna Pillai also figure along with a proposal to set up a Mar Chrysostom Chair in MG University.
