Thiruvananthapuram: The state budget is designed to rejuvenate post-covid Kerala said Finance Minister TM Thomas Isaac talking to reporters Friday morning. It is essential to resurrect the economy from ravages of covid. There have to be new jobs and job opportunities. The present budget will comprise schemes to create them. The budget will also ensure social welfare alongside economic growth.
It has been possible to devise welfare schemes for the state. Support services too have been enhanced. The Budget will formulate projects that can be completed within the framework of five years, the minister said.
There is a law that governs quantum loans the state can avail. There are rules in economics to indicate if the state debt has risen or has not. If the rate of economic growth exceeds loan rate, there is no cause of worry.
If there be no borrowings made, people in the state would be driven to starvation. The goal should be to rejuvenate the economy using loans. There will be priority schemes to resolve problems faced by people at large. The current budget is aimed for long-term reforms in Kerala. The budget will be the Left’s Kerala alternative to counter prevailing conditions, the minister said.
