Thiruvananthapuram: Finance Minister T.M. Thomas Isaac has said that the proposals included in the State Budget were aimed at overcoming the adverse economic climate that exists in the State following the demonetisation exercise.
Participating in ‘Budget Talk – Live’, the live budget debate organised jointly by The Hindu and MediaOne channel on Friday, Dr. Isaac said that the budget proposals were formulated in a manner that could spur infrastructure development to undertake modernisation at a fast rate.
“While the economic climate of the State went through various adverse factors, including the slowdown caused by demonetisation, there is a need to utilise every possible source of investment. The Kerala Infrastructure Investment Fund Board (KIIFB) is crucial in this respect,” he said.
He pointed out that the government had given utmost importance to measures to rein in price rise and minimise the impact of the impending drought. He added that efforts would be made to enhance the efficiency of the proposed projects, besides improving the capabilities of various agencies in undertaking them without delay.
According to Mr. Isaac, he has used the concept of gender budgeting as an instrument which provided scope for intervention by activists and women organisations during the implementation of certain projects. Spaces for democratic interventions have been created. He added that he had made a conscious effort to protect sectors, including cashew, which had a greater participation by women.
Admitting that no allocation had been made for the welfare of migrant labourers, Dr. Isaac said the government was willing to partner with private entities for specific purposes such as establishing dormitories and facilities for workers at construction sites and other workplaces.
‘Bold budget’
Speaking on the occasion, Agriculture Minister V.S. Sunil Kumar said the budget befitted the prevailing economic environment. “The Finance Minister has displayed immense confidence in formulating bold proposals that were the need of the hour. It is a realistic budget that dares to dream high,” he remarked.
He added that the budget provided utmost importance to mitigating the implications of the marked fall in Central allocation of essential commodities.
