Kerala Finance Minister Calls for State-Specific Financial Approach to Tackle Fiscal Woes

Kerala Finance Minister K N Balagopal has urged the Center to adopt a state-specific financial strategy to address Kerala's unique developmental challenges. Expressing concerns over reduced central fund transfers and borrowing limits, he has called for a Rs 24,000 crore package in the upcoming Union Budget.

Amidst pressing financial challenges, Kerala Finance Minister K N Balagopal has advocated for a state-specific financial approach tailored to Kerala's unique development needs. He criticized the current monolithic strategy, emphasizing the necessity for flexible utilization of Centrally Sponsored Schemes (CSS).

Expressing concerns over reduced central fund transfers and stringent borrowing limitations, Balagopal highlighted Kerala's demand for a special Rs 24,000 crore package in the forthcoming Union Budget. He pointed out that Kerala's share from the divisible pool has sharply declined, affecting the state's financial health.

During an interview with PTI, Balagopal detailed the toll of current policies on Kerala's economy. He stressed Kerala's efficiency in revenue management and social security measures, advocating for a more equitable state-specific financial model to ensure cohesive national development.

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