The State has lost its entitled share of ₹91,269 crore from the Centre during the period from 2017-18 to 2022–23 following the hostile financial policies pursued by the Centre, Finance Minister K.N. Balagopal has said.
Replying to questions from legislators during the question hour in the Assembly on Tuesday, the Minister said the Centre’s decision to reduce the net borrowing limit of Kerala considering the cash reserve in the public account and loans availed by various institutions under the State government as its debt worsened the financial situation of the State.
It was not possible to make up the loss in State revenue by increasing its own revenue sources. Also, it was not possible to cut short the spending for various schemes in proportion to the drop in its entitled grants from the Centre. However, the State had been trying hard to disburse the benefits to various sectors amid the financial woes by listing the amount for such schemes in the present Budget, the Minister said.
The GST enforcement wing also intensified its action in the State to check tax evasion. The enforcement wing could collect a tax revenue of ₹1,744.7 crore in 2023-24, ₹532.05 crore in 2022-23, and ₹157 crore in 2021-22 period, the minister said in reply to a question.
