Kerala Budget 2020: Kerala Finance Minister Thomas Isaac Friday presented the state’s budget for the year 2020-21 in the Legislative Assembly. He began his speech with a reference to the ongoing protests against the Citizenship (Amendment) Act. and the resolution passed the House against it. He targeted the Centre for “strangulating” the state by denying it central funds.
In his budget speech, which last nearly two and a half hours, Isaac announced a slew of welfare measures. The state has hiked welfare pensions by Rs 100. It has promised to provide meals at Rs 25 at 1,000 Kudumbashree restaurants across the state. It also said it would build one lakh homes under the LIFE mission.
The Budget comes a day after the state government tabled its Economic Survey 2018-19 in the House, which pegged the state’s GDP at 7.5 per cent, a marginal increase from the previous year’s 7.3 per cent. There was, however, a decline in the agriculture sector, which fell from 1.7 per cent in 2017-18 to (-) 0.5 per cent in 2018-19.
The highest growth rate was recorded in the secondary or industrial sector, where the main push came from manufacturing. According to the Survey, state Public Sector Undertakings (PSUs) saw a total turnover of Rs 3,442.74 crore in 2018-19, a 17.9 per cent increase from 2017-18.
“In 2017-18, the contribution from the secondary sector was 27.7 per cent at constant prices and 25 per cent at current prices. Among the sectors, the highest growth was in the secondary sector with 8.8 per cent growth at constant (2011-12) prices followed by tertiary sector (8.4 per cent),” it stated.