Kerala Budget 2021-22 Focus on Development of Digital Economy

KOCHI:
“Kerala Interim Budget for 2021-22 Presented in the Kerala Legislative Assembly by Dr. Thomas Issac, Finance Minister today was mainly focusing on the past five years achievements of the Govt. and projected the new development agenda for Kerala.

“Increased allocation of funds and thrust on development of digital Economy, Knowledge Society, Innovation Society, Start-ups are appreciated,” says Deepak L Aswani, Co-Chair, FICCI Kerala State Council.

Allocation of 55,000 crores for three Industrial Corridors in the State will accelerate the infrastructure development in the State. Reduction of State Vat to 5 % wills a great boost for LNG related projects. Reduction of Stamp duty and registration to 4 % and 1 % will be a great boon to Real Estate and Construction Industry in the State. Increased allocation of funds for infrastructure and marketing activities of Tourism Sector 117 Crores and Rs.100 crores will be a great help for Tourism Sector which has been severely affected by Covid and is now slowly on the revival path.

“However, more efforts are required to cut down public expenditure and with more focus on a performance audit of funds allocated to various projects every year in view of increased revenue deficit and public debt every year added FICCI, Co-Chair, FICCI Kerala State Council.