'The most disappointing budget in 24 years': Congress criticizes Kerala's financial plan
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Synopsis
The Kerala budget presented by Finance Minister K.N. Balagopal has faced severe criticism from the opposition, with claims it is the worst in 24 years. Chief Minister Pinarayi Vijayan, however, defends it as a plan for a new Kerala, addressing both immediate and long-term needs of the state.
Key Takeaways
- Opposition leaders criticize the budget for its inadequacies.
- Vijayan defends the budget as a step towards building a new Kerala.
- Increased property tax rates are deemed unacceptable.
- Concerns raised over unemployment and financial management.
- Critics argue the budget misrepresents the fiscal health of the state.
Thiruvananthapuram, Feb 7 (NationPress) The final comprehensive budget of the second Pinarayi Vijayan administration, unveiled by Finance Minister K.N. Balagopal in the Kerala Legislative Assembly on Friday, faced significant criticism from the opposition. However, Chief Minister Pinarayi Vijayan praised the state budget.
“This budget is set to propel the policies designed to construct the ‘new Kerala’ as it incorporates numerous innovative strategies to achieve that aim,” stated Vijayan.
“This budget will address the immediate needs of our state, despite the Centre's financial discrimination against Kerala. It has tackled both short-term and long-term necessities without burdening the populace,” he added.
“Even though the Centre has overlooked Kerala, this budget demonstrates that the state's requirements have been acknowledged. The future of the new generation has also been taken into account to ensure their wellbeing,” remarked Vijayan.
Nevertheless, Leader of Opposition V.D. Satheesan emphasized that this is a farewell budget for the Vijayan administration.
“This is the worst budget in the past 24 years (Satheesan has served in the Assembly since 2001).
The budget does not accurately reflect the state's fiscal status and presents a misleading view since Rs 15,000 crore in planned expenditures has been slashed, and no provisions have been made for debt repayments. Additionally, comparing the previous budget allocations reveals a troubling scenario,” said Satheesan.
“The increase in property tax rates (up by 50 percent starting April 1st, 2025) is completely unacceptable as it will impose a significant burden on the public. There seems to be a lack of thoughtful consideration since the MSP for rubber in the previous budget was set at Rs 180 while the market rate exceeded Rs 200,” Satheesan added.
State BJP President K. Surendran criticized the budget speech, declaring it more of a public address than a serious financial plan, failing to tackle the urgent issues facing Kerala.
“This budget does not address the large number of unemployed educated youth, nor does it focus on the manufacturing and agriculture sectors. The absence of substantial content in the budget is a result of poor financial management, and there is no point in blaming the Centre as it has fulfilled its responsibilities,” Surendran concluded.
