State Budget may earmark more space, money for green initiatives

Pre-budget consultations are in still in progress but indications are that sectors in focus for environment-related spending include agriculture and allied sectors such as fisheries, environment, water resources, forests, local self-government, and disaster management

Kerala Finance Minister K.N. Balagopal

The State Budget for the 2023-24 fiscal, slated to be presented on February 3, is expected to earmark more space and money for environment-related initiatives given the growing concern over climate change and the emphasis on mitigation and adaptation.

While the finer details are still being worked out, senior officials say the Budget will specially ‘tag’ climate change-related spending in key sectors. The government has indicated that the 2023-24 Budget will also feature an ‘Environment Budget,’ but whether this will be presented as a separate document remains to be seen.

Climate Budget tagging is a tool for tracking related expenditures in the Budget. Finance Minister K.N. Balagopal is expected to present the Budget on February 3 during the eighth session of the 15th Kerala Assembly that opens on January 23.

Pre-budget consultations are in still in progress but indications are that sectors in focus for environment-related spending include agriculture and allied sectors such as fisheries, environment, water resources, forests, local self-government, and disaster management.

The revised State Action Plan on Climate Change 2023-2030 (SAPCC 2.0), published in December 2022, lists the above-mentioned sectors as having ample scope for climate mitigation measures.

When contacted, Mr. Balagopal indicated the need for having more green initiatives in the Budget, particularly those related to the protection of the environment.

Presenting the 2022-23 Budget last March, Mr. Balagopal had announced that his next Budget would feature an Environment Budget detailing environment-related expenses for ensuring ‘‘more transparency and credibility’‘ to measures aimed at tackling climate change.

The SAPCC too has recommended that a comprehensive climate budgeting can be performed under the Environment Budget as envisioned by the State Planning Board.

Targeted action and building climate resilience will be a major concern during the 14th five-year plan (2022-2027) period. The draft approach paper to the plan published by the Planning Board notes that ‘‘environmental regulation and governance, especially for coastal zones and wetlands, must take note of the imperatives of climate change and the consequent pressures on those living close to fragile ecosystems.’‘

Ends