Kerala earned revenue of 77000 crores despite being financially squeezed by Centre: Finance Minister KN Balagopal

THIRUVANANTHAPURAM: Finance Minister KN Balagopal said that the state has created a record by earning a revenue of Rs 77,000 crore despite being financially squeezed by the Centre. The Finance Minister stated this in a note released as part of the beginning of the fourth year of the second Pinarayi government.

"The state registered a record increase in its own revenue in the third year of the government. In 2020-21, the state's own tax revenue was 47,000 crore. It was raised to Rs 77,000 crore in 2023-24. The increase is about 60 percent in three years. If this had not happened, Kerala would have reached economic collapse due to the anti-state policies of the central government," KN Balagopal said.

"In the last three budgets, the state government was able to formulate many projects crucial to the future of Kerala and implement some of them. Projects are underway to increase production, revenue and employment opportunities," he added.