Thiruvananthapuram: Kerala has successfully overcome its financial crisis without compromising on welfare schemes or development projects, Finance Minister K. N. Balagopal declared while presenting the fifth budget of the Pinarayi Vijayan-led government.
One of the budget’s key highlights was a ₹750 crore rehabilitation project for the victims of the Wayanad landslides that struck on July 30, 2023, causing massive destruction. An expert committee estimated ₹2,221 crore would be required for full rehabilitation and reconstruction. However, Balagopal noted that the central government has yet to allocate any funds for relief efforts.
Despite fiscal challenges in recent years, Kerala has safeguarded its social welfare programs, ensuring uninterrupted support for its citizens. The budget also outlines ambitious infrastructure projects, including the expansion of metro rail services in Thiruvananthapuram and Kozhikode, alongside investments in transport corridors and industrial hubs to boost economic growth.
Reaffirming Kerala’s economic resilience, the finance minister emphasized that the state remains on a steady path to recovery and progress, committed to welfare-driven development while enhancing revenue generation and financial stability.
