Kerala Finance Minister's Meeting with Sitharaman: Special Package Demands

Kerala Finance Minister KN Balagopal met Union Finance Minister Nirmala Sitharaman, presenting demands such as a Rs 24,000 crore special package and increased borrowing limits. Balagopal emphasized Kerala's fiscal consolidation efforts and requested significant support for infrastructure projects like the Vizhinjam International SeaPort.

On Thursday, Kerala Finance Minister KN Balagopal convened with Union Finance Minister Nirmala Sitharaman, outlining several key financial demands. Foremost among these was a special package and permission for higher state borrowings.

Balagopal presented a detailed memorandum highlighting Kerala's strides in fiscal consolidation while grappling with a fiscal crisis attributed to limited central transfers and borrowing restrictions.

Post-meeting, Balagopal noted the session's courtesy nature, following Sitharaman's reelection as Finance Minister. Kerala seeks a special Rs 24,000 crore package spread over two years in the upcoming Union Budget to alleviate liquidity woes. Additionally, demands include Rs 5,000 crore each for the Vizhinjam International SeaPort and other infrastructure ventures like the Tunnel Road link between Calicut and Wayanad.

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