Kerala budget 2022: Highlights

Kerala budget 2022 Highlights

Kerala budget 2022: Highlights

Finance Minister K.N. Balagopal has presented the Kerala budget for the financial year 2022- 23 in the Assembly on 11th February 2022. The Highlights of the Budget 2022- 23 are: 

  • To check price rise and ensure food safety, the Budget has been earmarked at ₹2000 crore.
  • From KIIFB, an Outlay of ₹200 crores was announced for Universities. 
  • Industrial facilitation parks to be set up with a corpus fund of ₹200 crores from KIIFB. 
  • ₹2 crores have been allotted for organising various programmes to ensure global peace.
  • There is a proposal for encouraging startups in Universities. Incubation centres would be set up in universities. 
  • ₹26 crores announced for digital university.
  • ₹100 crores have been allocated for the medical innovation lab.
  • ₹15 crores are set aside for graphene research;
  • ₹5 crores for establishing a centre of excellence in microbiology research. ₹50 crores announced for Institute of Virology. ₹50 crores for the Institute of Advanced Virology, Thiruvananthapuram to develop monoclonal antibodies and other anti-viral products. 
  • Chief minister’s Nava Kerala fellowships will be provided for 150 persons.
  • The budget announces a new IT Park at Kannur and Kollam. Four IT corridors would be set up parallel to NH 66. ₹100 crores have been earmarked for IT infrastructure development. ₹1000 crore to acquire land for developing IT parks.
  • Steps would be taken to launch the 5G service in Kerala.
  • Four science parks are to be established at a cost of ₹1000 crore. ₹4 crores were allocated for the Global science festival to be held in Thiruvananthapuram.
  • For a pilot project to develop ethanol from cassava, ₹2 crores is allotted.
  • Seven Agri-Tech facilitation centres to be established across Kerala at a cost of ₹175 crore
  • The budget is proposing the setting up of an agriculture marketing company in PPP. ₹20 crores earmarked for forming the company.
  • ₹20 crores is announced for cleaning Ashtamudi lake.
  • The budget announces that 50% of ferry boats in the State will be solar-powered under a project to cut carbon emissions and minimise the impact of global warming and climate change. ₹15,000 subsidy for converting fossil fuel-powered autos to electric.
  • ₹260 crores for various activities of Kudumbashree.
  • 212 crore man-days of work to be created under MGNREGA this year.
  • for setting up cold chain centres in the fisheries sector, ₹10 crores are allotted 
  • ₹140 crores are allocated for the second Kuttanad package
  • ₹30 crores are announced for the Sabarimala master plan.
  • Solar pushcarts to be distributed to vendors.
  • ₹23 crores announced for the manufacture of byproducts from effluents at the Travancore Titanium Products factory in Thiruvananthapuram.
  • The finance minister announced ₹16 crores to set up Wi-Fi hotspots.
  • ₹15 crores have been announced for holding Champions Boat League.
  • The budget announces ₹5 crores for developing Caravan tourism; ₹1000 crore loan scheme has been set aside for tourism development.
  • The budget proposes to introduce mobile ration shops.
  • ₹147.5 crores earmarked for the welfare of Pravasi.
  • ₹10 crores earmarked for ensuring the re-admission of medical students evacuated from Ukraine. 
  • `₹4600 has been allocated for the gender budget package.
  • The finance minister announced the revision of the land tax. A new slab is to be introduced for There is a 10% hike in the fair value fixed for the land by the government. 
  • A 1% increase in motor vehicle tax. 
  • A 50% increase in green tax fixed for the old vehicles.

Leave a Reply

Capsule Course


Sign up to our newsletter for regular updates and more.

Request a Call Back

%d bloggers like this: