Efficient financial management and a record increase in the State’s own revenues helped Kerala withstand fiscal pressures in the 2023-24 fiscal, Finance Minister K.N. Balagopal said on Saturday.
Speaking to reporters here after visiting the treasury on Saturday, the last working day of the 2023-24 fiscal, Mr. Balagopal said the government had made payments to the tune of ₹26,000 crore in March to various sectors. The figure had been close to ₹22,000 crore in March 2023. The annual spending in 2023-24 is also likely to be higher than the previous fiscal, he said.
On Union Minister’s charge
Mr. Balagopal countered Union Finance Minister Nirmala Sitharaman’s recent charge regarding poor fiscal management in the State. He said that the Supreme Court had found substance in the State’s arguments in this regard.
Salaries and pensions will be paid on time in April, Mr. Balagopal said. There is no need for concern over the disbursement. (The payment of the salaries and pensions for the month of February had been delayed in March on account of the financial crunch.)
Mr. Balagopal also reiterated his charge that the United Democratic Front (UDF) MPs from the State had failed to fight for the State’s interests in Parliament.
