The package announced by the Union Finance Minister has only few interventions to address the lack of demand in the market, Finance Minister T.M.Thomas Isaac said in a statement here on Friday.
Out of the ₹1 lakh crore package for the agricultural and allied sectors, only around ₹20,000 crore is the additional spending from the Budget. The State will cooperate with all the new projects and will try to implement it in the best possible manner in Kerala. However, the Centre should make clear as to which are the existing schemes in the package now announced. The Centre’s package is not generally viewed as a stimulus package, said Dr.. Isaac. He said that the State will cut down considerably on its expenses. According to a study conducted by the Gulati Institute of Finance and Taxation, the revenues of the State will fall to ₹81,180 crore from the ₹1.14 lakh crore estimated in the Budget.
