Kerala Budget: Government announces measures to attract investments

Thiruvananthapuram, July 8 (KNN) In his maiden budget, the Pinarayi Vijayan led Left Government in Kerala plans to attract major investments to tide over the financial crisis in addition to bringing in all welfare schemes under a single umbrella.

Presenting the budget before the Assembly on Friday, Finance Minister TM Thomas Isaac said attracting investment to the tune of Rs one lakh crore in 2 years is the major development agenda. 

New post creations, other than for necessary sectors like health, will be out on hold for two years.

He announced to set up industrial zone and land acquisition which has been a major barrier for infrastructure development in the state will not to be delayed due to lack of funds.

While giving budget speech, Minister said that second coir restructuring scheme would be brought in and  10 percent subsidy for coir treatment factories would be provided, apart from this Rs100 crore for modernisation of cashew factories would be given.

For the fishing industry, Rs 20 crore for hatchery has been allocated and debt relief of 50 crore for the fishermen would be distributed. Those staying in CRZ area will be facilitated to move to other places. Separate fishing harbours would be completed soon, said the minister.

Minister kept Rs 390 crore for the power sector where 1000 MW would be generated through solar panels on the roof top of houses and Rs 250 crore for promoting LED. (KNN Bureau)