THIRUVANANTHAPURAM: Finance Minister Dr. Thomas Isaac, who clarified that the state is under critical financial crisis, presented the Kerala Budget 2018-19 giving importance to social security and protection of women.

The minister who stressed on sticking to economic discipline, also talked about the importance of minimising expenditure. He also said that though there is a gap between the expense and revenue, the funds for projects will not be cut short.

Dr. Isaac added that more resources will be added to the KIFBE through different bonds aimed at more economic consolidation.
Meanwhile, the minister did not talk about any new projects.

“Video conferencing will be made use of to reduce travel expenditure for official meetings. There will be restrictions on purchase of cars and other equipment for the different government departments,” he said, and urged all to change to cheaper mobile packages to cut down on mobile bills.

The minister who allotted Rs. 2,000 crore for coastal areas, also announced a Rs. 1,267 crore package for women security and welfare.

Key Highlights
 

• Rs. 150 crore package for rehabilitation of people up to 50 meters away from sea.
• Free Wi-Fi in coastal villages.
• Renovation of schools in coastal areas with more than 200 students.
• Rs. 600 crore for fisheries department.
• Rs. 584 crore for harbour trading.
• Rs. 900 core investment through KIFBE.
• Rs. 10 crore to prepare DPR for development of coastal areas.
• The Finance Minister applauded the women who took charge of the family of men who died in the Ockhi cyclone tragedy, but he asserted that the state has not yet achieved gender equality. He said that the women are not given the dignity of their labour.
• Dr. Isaac criticised the ‘note ban’ by comparing it with the Ockhi cyclone and said that it created similar destruction of the economy.
• He said that the GST brought about benefits only for corporates and big traders.
• He also said that there is large-scale leakage of the IGST but the Centre did not take a favourable stance when the state tried to control it by introducing e-declaration.
• The gap between expenditure and revenue is widening in Kerala since the last five years. The state is reeling under critical financial crisis.
• Project expenditure increased by 22 per cent, and cost of implementing projects have increased by 24 per cent, and cost of implementing projects have increased by 24 per cent.
• Tax revenue has decreased. The expected raise in tax revenue was by about 20 to 25 per cent but it only increased by 14 per cent.The expected raise in tax revenue was by about 20 to 25 per cent but it only increased by 14 per cent.
• Tax revenue stands at Rs. 86,000 crore.
• There is a need for strict economic discipline.
• The internal growth of Kerala has been higher than the national average even amidst adverse conditions. When the growth rate of India stood at 7.1, the same for Kerala was 7.4.
• Investments through KIFBE to continue. People joining KIFBE to receive conditional pension, house worth Rs. four lakhs and accidental insurance cover.
• More NRIs joining NRI chit funds would improve the prospects of the state.
• NRI chits to be introduced under KSFE.
• Apartment complexes worth Rs. 10 lakh for land-less.
• Rs. 2,500 crore for Life project.
• Health insurance scheme by the Centre is a backlash for the state. Many of the RSBY member s are now out of insurance cover.
• 550 more doctors and 1750 more nurses in medical colleges.
• Oncology department in every medical colleges
• New cancer centre in Kochi
• Comprehensive cancer treatment project to be implemented
• Masala Bond to be implemented for all NRI Malayalees
• Rs. 2,500 crore for comprehensive housing project
• Selected ration stores to be converted into margin-free markets
• Rs. 20 crore for project to eradicate hunger
• Rs. 260 crore for market intervention
• Rs. 900 crore to implement food subsidy
• Rs. 31 crore to implement Food Security Act
• Social security pensions will not get blocked
• Revenue deficit to be maintained at three per cent
• Rs. 4 lakh worth house for 4.21 lakh people
• Rs. 10 crore to prepare DPR for coastal areas
• GST was disappointing, corporates benefitted the most
• Ensure gender equality