Union Budget 2025 | Kerala presses for job-generating investments to counter economic slowdown

Thiruvananthapuram: Kerala Finance Minister K N Balagopal has stressed the need to have more job generating investments to avoid an impact of economic slowdown.

Briefing the media about Kerala's expectations from the Union budget, Balagopal said that owing to the fiscal crunches the state governments were not in a position to spend much on investments. Hence the states like Kerala look forward to the Union budget for having more job generating investments so as to resist an economic slowdown.

Major announcements for rehabilitating landslide survivors of Wayanad as well as building up climate resilient infrastructure are another key expectations of Kerala from the budget.

The state has requested Rs 2,000-crore special package for Wayanad and Rs 4,500-crore as initial support for undertaking focused resilience-building measures. The Kerala State Climate Change Adaptation Mission (KSCCAM) has already identified nine priority projects for climate resilience. The initial finance requirement comes to Rs 22,500 crore.

Kerala is also reiterating the demand for a Rs 24,000 crore special package to tide over the fiscal stress caused by cuts in central allocations. Kerala is one of the states that suffers the extreme discrimination from the Centre with regard to finances, Balagopal said.

With a formal commissioning of the Vizhinjam international seaport expected soon, Kerala is seeking a special assistance of Rs 5,000 crore for pressing infrastructure needs like rail connectivity to the port and setting up industry corridors to tap the potential.

Balagopal said that the upcoming budget of Kerala would be growth-oriented with equal emphasis for social welfare. Kerala is one of the states that makes the highest spending on social welfare.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.