'Will increase welfare pension after completing existing dues'; Finance minister tells assembly

THIRUVANANTHAPURAM: Finance Minister KN Balagopal promised not to cut down benefits including wages, stipends, scholarships and pensions in the state citing financial constraints. The minister was replying at the end of the budget discussion in the assembly.

K N BALAGOPAL:

"The demand for an increase in welfare pension will be considered after payment of dues. Even to increase Rs 100 in the welfare pension, one thousand crores more will have to be found in a year. Matters including an increase in the floor price of rubber and paddy will also be considered.

The allegations of projects being cut short are baseless. By early February, 63% of the total project cost had been spent. The project cost of local bodies has crossed 68%. Projects can be completed in the prescribed manner. Considering these circumstances, the projects for the next financial year have been approached with a prescient eye. Construction of the announced projects will be implemented promptly.

All components of the Vizhinjam project will be completed by 2028. With the completion of Vizhinjam-related development projects and advancements like AI's modern-level GPU cluster and GCC Park, the budget proposes a massive initiative to bring back Malayalees working abroad."

The Urban Commission is being formed to use methods including municipal bonds to ensure more liquidity for local bodies. The Finance Minister said that this is the first time in the history of the state that the income and expenditure will cross two lakh crores. The average budget expenditure during the first Pinarayi government was Rs 1,17,000 crore. This is expected to cross 1.79 lakh crore this financial year.