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Kerala Budget 2022-23 Focuses on Integrated Development: FICCI

In Business
March 11, 2022

Kerala Budget for 2022-23 presented in the Kerala Legislative Assembly by Kerala Finance Minister K N Balagopal, focused on Integrated Development of Kerala with focus on key engines of Growth.

“Special focus on sectors such as Knowledge Based Economy, Skilling, IT, Start-ups, Innovation Food Processing are to be appreciated,” says Deepak L Aswani, Chairman, FICCI Kerala State Council.

Increased outlay for start-up and incubation centers, proposal to Set up 10 to 15 District Skill Parks, Innovation Park at Thirvanthapuram, Setting up of IT Corridors, New IT Parks at Kannur and Kollam, Setting up 10 Mega Food Processing Parks. Promotion of Industrial Parks under Pvt. sector are Proposal to speed up the land acquisition for GIFT City and Kochi & Palakkad Industrial corridor are welcome move.

The new thrust on the infrastructure development of Minor Ports in Kerala will be helpful for Exim and Business community. Renewed focus on the development of Tourism Sector is also appreciable.

The proposal to revise the basic Land Tax and revising the fair value without decreasing the Stamp Duty would detrimentally affect the Real Estate Sector which has been severely affected by COVID.

“State Govt has also come up with announcements to cut down Govt. expenditure on governance wherever possible in view of increased revenue deficit and public debt every year added Chairman, FICCI Kerala State Council.