Kerala exploring revenues without burdening people
Kerala is always exploring ways to improve its finances by generating revenues without burdening the people, Chief Minister Pinarayi Vijayan has said and asserted that the state’s journey is quite exciting
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Kochi: Kerala is always exploring ways to improve its finances by generating revenues without burdening the people, Chief Minister Pinarayi Vijayan has said and asserted that the state’s journey is quite exciting. Against the backdrop of persisting differences with the BJP-led Centre on various issues, including lower devolution of central funds and inadequate relief measures for Wayanad rehabilitation works, Vijayan took a swipe at the central government saying “Kerala is being left in the lurch even during disasters”.
In an interview to media, the strongman of the ruling Left Democratic Front (LDF) also said the state wants to attract more investments. The two-day Investor Kerala Global Summit (IKGS), which concluded on February 22, attracted expressions of interest for investments worth Rs1.53 lakh crore, with the government emphasising that all steps are taken to ensure that there are no cobwebs of procedural delays and red tapism.
“We are always exploring ways to improve our finances, especially in terms of generating revenue without burdening the people,” the chief minister said, adding that the state’s “growth journey is in fact quite exciting”. Kerala, which accounts for 2.8 per cent of the country’s population and 1.2 per cent of its land area, contributes almost 4 per cent to the national GDP.
According to Vijayan, the state’s GSDP is growing at almost 12 per cent at current prices. “The state’s per capita income is 60 per cent higher than the national average. As per Budget estimates for 2024-25 at Rs103,239.97 crore, our own revenue is almost three times that of our share in central taxes and grants, which is Rs35,415.2 crore,” he said. Kerala, where the LDF is in power for the second straight term, has been flagging issues about declining funds from the Centre. “As far as Finance Commission devolutions go, Kerala’s share has declined from 3.875 per cent during the 10th Finance Commission to 1.925 per cent during the 15th Finance Commission. The trend is clear.
Despite this steady decline, Kerala is being left in the lurch even during disasters,” the chief minister said. Last year, Wayanad was devastated by floods and landslides that also claimed many lives.
