Kerala Finance Minister Highlights Economic Resilience Amidst Central Constraints

Kerala Finance Minister K N Balagopal claims the state thrived despite central economic restrictions. In his budget speech, he noted additional tax and non-tax revenues that enabled progress in all sectors, defying predictions of financial instability. Development expenditures have reportedly reached historic highs.

In a bold assertion, Kerala Finance Minister K N Balagopal has declared that the state has not only survived the alleged neglect and restrictive economic measures by the central government but has thrived, forging a 'new normal' in its progress across various sectors.

During his recent budget speech, Balagopal emphasized that Kerala's financial resilience is evident in the substantial additional revenues generated in the form of Rs 1,27,747 crore in tax revenue and Rs 24,898 crore in non-tax revenue. These achievements have helped sustain development without reducing expenditures despite central financial constraints.

The Finance Minister's optimistic outlook was supported by both the Reserve Bank of India and the Comptroller and Auditor General. Balagopal believes that the absence of central restrictions could have further propelled the state's progress, while dismissing allegations that Kerala cut down on development efforts as baseless.

(With inputs from agencies.)