THIRUVANANTHAPURAM: The first budget of Pinarayi 2.0 government will be presented by finance minister K N Balagopal in the state assembly on Friday. Given the special context as it is a revised budget, it could arguably be the shortest budget speech.
Balagopal, a first-time MLA, is learnt to have given finishing touches to his budget by spending time at the Government Guest House as well as KTDC’s Mascot Hotel here. As per the schedule, the House would meet at 9am on Friday and in no time it would see the new finance minister reading out his speech from a lectern set near his seat. Last time, then finance minister T M Thomas Isaac had set a record by delivering a speech that lasted three hours and 18 minutes.
Since the Pinarayi government retained power in the assembly elections held hardly three months after Isaac presented a ‘full budget’ on January 15, the new finance minister is not expected to make any alterations in the basic tenets of the prevailing budget.
However, Balagopal would certainly try to leave his mark in the revised budget, giving clear indications about his vision for the cash-strapped government and pandemic-hit economy. Given his short comments on the dire straits of the state’s economy and the need to explore more revenue generation options, Balagopal is likely to announce a few tax hikes, while unveiling a host of reprioritized programmes for health, social and tourism sectors and traditional industries. The allocations for major departments in the last budget are unlikely to be tampered with. Balagopal is learnt to have called for suggestions from departments to effectively address the new challenges and realities revealed by the second wave of Covid. His focus would predominantly lie in the health sector and mitigation of vaccine woes. There would also be announcements on action plans for the rollout of poll promises made by LDF in its manifesto.
Balagopal, a first-time MLA, is learnt to have given finishing touches to his budget by spending time at the Government Guest House as well as KTDC’s Mascot Hotel here. As per the schedule, the House would meet at 9am on Friday and in no time it would see the new finance minister reading out his speech from a lectern set near his seat. Last time, then finance minister T M Thomas Isaac had set a record by delivering a speech that lasted three hours and 18 minutes.
Since the Pinarayi government retained power in the assembly elections held hardly three months after Isaac presented a ‘full budget’ on January 15, the new finance minister is not expected to make any alterations in the basic tenets of the prevailing budget.
However, Balagopal would certainly try to leave his mark in the revised budget, giving clear indications about his vision for the cash-strapped government and pandemic-hit economy. Given his short comments on the dire straits of the state’s economy and the need to explore more revenue generation options, Balagopal is likely to announce a few tax hikes, while unveiling a host of reprioritized programmes for health, social and tourism sectors and traditional industries. The allocations for major departments in the last budget are unlikely to be tampered with. Balagopal is learnt to have called for suggestions from departments to effectively address the new challenges and realities revealed by the second wave of Covid. His focus would predominantly lie in the health sector and mitigation of vaccine woes. There would also be announcements on action plans for the rollout of poll promises made by LDF in its manifesto.
