Thiruvananthapuram: Presenting the second Pinarayi Vijayan-led government’s fifth budget, Kerala Finance Minister K. N. Balagopal asserted that the state has successfully overcome the financial crisis without compromising on welfare schemes and development projects.
A key announcement in the budget was a ₹750 crore rehabilitation project for the victims of the Wayanad landslides. The disaster, which struck on July 30, 2023, caused massive destruction, and an expert committee estimated that ₹2,221 crore would be required for full rehabilitation and reconstruction. However, the central government has not yet allocated any funds for the relief efforts, Balagopal stated.
Despite financial constraints in recent years, Kerala has continued to prioritize social welfare, ensuring that essential programs remain unaffected. The budget also included major infrastructure initiatives, including metro rail expansion in Thiruvananthapuram and Kozhikode, and investments in transport corridors and industrial hubs.
Emphasizing that Kerala is now on a path of economic recovery and growth, the finance minister assured that the state will continue its welfare-driven development model while strengthening revenue generation and financial management.
