Kerala's Financial Plea: A Call for Support in Union Budget

Kerala Finance Minister K N Balagopal has outlined significant financial requests from the Union Budget, seeking special packages to address the state's financial challenges. Among the demands are allocations for economic growth, landslide victim rehabilitation, and the Vizhinjam Seaport. The state also seeks exemptions for financial institutions and extensions for tax compensations.

Kerala Finance Minister K N Balagopal expressed optimism regarding the upcoming Union Budget, hoping it will include a special package for the state alongside measures to boost economic growth.

Balagopal disclosed that Kerala has appealed for a Rs 24,000 crore package from the Centre, anticipating partial fulfillment at least. The RBI's State of State Finances report indicates a national financial shortfall, urging higher capital investment and borrowing flexibility for states like Kerala.

Highlighting revenue declines and central allocation cuts, the state's finance minister emphasized the need for a special package to address these issues. Additional requests include a Rs 2,000 crore package for Wayanad landslide rehabilitation, a Rs 5,000 crore grant for Vizhinjam Seaport, and an extension of the GST compensation period.

(With inputs from agencies.)