Finance Minister K.N. Balagopal began his Budget speech painting a rosy picture of Kerala, which according to him is on the cusp of becoming a ‘sunrise’ economy with futuristic strides in technology, an exponential rise in demand and the resultant economic development. As far as the Industries sector is concerned, the Budget’s focus is on maintaining continuity with the Left Democratic Front (LDF) government’s recent initiatives to change long held negative perceptions about the investment climate in the State.
Holding up the achievements under the entrepreneurship year scheme, under which 1,40,000 Medium, Small and Micro Enterprises (MSMEs) were started, the opening of branches of multinational firms as well as new private industrial parks, and the proposals under the Make in Kerala initiative, he made a pitch for a turnaround in the industries sector. A total amount of ₹1,729.13 crore is earmarked for Industry, IT and Minerals Sector, out of which ₹773.09 will be for medium and large industries.
