Kerala Finance Minister Seeks Rs 24,000 Crore Special Package in Union Budget 2024-25

Kerala Finance Minister K N Balagopal has requested a Rs 24,000 crore special package from the central government to address the state's current liquidity stress during the Union Budget 2024-25 pre-budget discussion. Balagopal highlighted the state's financial difficulties and their significant contributions in various development sectors.

Kerala Finance Minister K N Balagopal on Saturday called on the central government to provide a special package of Rs 24,000 crore for the state in the upcoming Union Budget 2024-25 to mitigate the current liquidity crisis.

The request was made during a high-level pre-budget meeting in the national capital, attended by Union Finance Minister Nirmala Sitharaman and finance ministers from various states.

Balagopal emphasized the severe financial constraints faced by Kerala, exacerbated by reduced revenue shares and borrowing restrictions, despite the state's efforts in tax and non-tax revenue enhancement. He urged policy reversal on the borrowing limits and additional funding for critical infrastructure projects.

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