This Article is From Mar 13, 2015

Kerala's Budget Focuses on Raising Infrastructure Investment

Kerala's Budget Focuses on Raising Infrastructure Investment

Amid the unruly scenes, Kerala Finance Minister KM Mani managed to present the state budget.

Thiruvananthapuram:

Amid pandemonium in the assembly, Kerala Finance Minister KM Mani presented his 13th state budget today - envisaging a Rs 848.58 crore deficit - with a proposal to raise Rs 25,000 crore for investment in infrastructure in the next three years.

"Funds raised will be tapped on need-basis and would not be allowed to be used for meeting any expenditure other than on major capital projects in the state. I intend to set apart these funds for major projects like the suburban railway corridor, and metros in Thiruvananthapuram and Kozhikode, among other projects," said Mr Mani.

Despite pandemonium breaking out in the assembly which witnessed opposition Left legislators, in a frenzy, breaking the speaker's chair and computer, Mr Mani presented the budget with "a lot of pride".

The Left opposition, accusing Mr Mani of taking a bribe of Rs 1 crore to reopen closed down bars in the state and demanding his resignation, had declared they would not allow him to present the 2015-16 budget.

Mr Mani set aside Rs 600 crore for the Vizhinjam International Seaport project, Rs 940 crore for Kochi Metro Rail Project and Rs 50 crore for land acquisition for Kozhikode and Thiruvananthapuram international airports this year.

He also proposed a District Flagship Infrastructure Project for the development of infrastructure under which a major project selected in every district will be funded under this initiative. For this, the minister set aside Rs 1,400 crore.

"A budget is not merely a concatenation of figures - it truly embodies aspirations of people. I truly believe that my previous budgets have given a significant impetus to growth. The notable increase in Kerala's economic growth has come for positive comments from many sources," Mr Mani said.

He announced a new insurance scheme for auto-rickshaw drivers wherein the state government will meet 90 per cent of the premium.

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