The State government intends to establish agro parks with funding under the Kerala Infrastructure Investment Fund Board (KIIFB), Finance Minister K.N. Balagopal has said.
The plan was to set up four of five agro parks through KIIFB, the Minister informed the Assembly on Thursday. He said that agriculture had the lowest representation amongst the KIIFB-approved infrastructure development projects.
“Among the projects worth more than ₹64,000 crore approved by the KIIFB, the farm sector accounts for projects worth just ₹25 crore-₹30 crore,” Mr. Balagopal said.
The government had announced that five agro parks would be started in the State. Mr. Balagopal said these parks would facilitate value addition, processing, refrigerated storage and marketing of agricultural produce.
The KIIFB had given approval for 912 projects valued at ₹64,344.64 crore to date. This includes 17 projects worth ₹1,076.92 crore cleared by the KIIFB board and executive committee on August 7.
The Finance Minister reiterated the government's plans to restructure and strengthen the State Goods and Services Tax Department. This is intended as part of the efforts to boost tax collection.
The State would reiterate its demand that the GST compensation period should be extended by another five years at the GST council meeting, he said.
Finance Bill passed
The Assembly passed the Kerala Finance Bill, 2021, and the Kerala Finance (No. 2) Bill, 2021.
