The second budget of Finance Minister KN Balagopal is harmless, except for a small poke on those who own land and vehicles. When expenses are high and incomes are not increasing, everyone will try to distribute accordingly so as to avoid big complaints. The finance minister's budget was also similar. Earlier, it was hinted that there would be some new tax proposals and hike in some existing ones. But the minister did not go into it much. The budget only proposes for a total additional tax revenue of Rs 602 crore. There will be a ten percent increase in land tax. A one percent increase in the tax on motorcycles has been proposed. There is a 50 percent increase in the green tax on old vehicles. New slabs will be laid for land tax assessment. There will be an increase in the registration and stamp duty items along with the revaluation of the fair value of the land. No tax increase is recommended in any of the other areas. There were many opportunities to earn extra income, including in the service sector, but the minister didn't get to it. As such, the general response to the budget will be generally satisfactory. It is natural for some sections to be disappointed that there will be no increase in benefits, including welfare pensions. But now the debt-ridden government is not even thinking about spending extra.

The budget contains a number of proposals that are in line with the policy targeting the construction of new Kerala. Substantial allocations have been made for new projects in higher education, public health, agriculture, tourism and industry. The proposal to set up start-ups in university campuses to provide graduate certificates and acquire vocational skills that are consistent with the study of children is an innovative idea in the budget. An amount of Rs 200 crore would be provided for this for ten universities. Similarly, start-ups will be set up in 14 districts in association with technology institutes. An amount of Rs 350 crore will be spent for setting up of skill parks in all the districts to impart vocational skills to the youth. The Medical Innovation Park is intended for Thiruvananthapuram. It will cost Rs 100 crore. IT parks in Kannur and Kollam, satellite IT centers as an adjunct to existing IT parks, a special scheme for skill training for 5000 students and production units affiliated with educational institutions are some of the attractive projects.

In addition to IT parks, there are proposals in the budget to start science parks. In addition to providing all incentives to entrepreneurs, loans and subsidies will also be made available. The goal behind all this is to create maximum employment. The budget proposal is to develop four IT corridors connecting large IT parks in Thiruvananthapuram, Kochi, Kozhikode and Palakkad. The government will provide 15 acres of land for satellite parks linked to IT companies. An amount of Rs 2000 crore has been set aside for market intervention etc. to save the common man from the threat of inflation. In addition to streamlining the public distribution network, steps will be taken to strengthen the Civil Supplies Department. The door-to-door delivery of ration items will come into effect soon. Representatives of farmers will be sent abroad to see first-hand the mechanized farming practices implemented there. The amount of Rs 881 crore allotted to the agricultural sector is not satisfactory. An amount of Rs 76 crore has been set aside for paddy development, Rs 26 crore for vegetable cultivation and Rs 28 crore for increase in support price for paddy.

Plans to prevent pollution of water sources have gained importance. Rs 20 crore has been set aside for the rehabilitation of Ashtamudi and Vembanad backwaters and Rs 10 crore for the removal of plastics in reservoirs. This budget also mentions the sand dredging project in the dams which has been talked about for many years. This project, which is also a new source of revenue, needs to be taken seriously.

A large allocation has been made for the development of six new bypasses, junctions, outer ring road at Thiruvananthapuram, MC Road and National Highways. In the first phase, Rs 2,000 crore has been earmarked for KIIFB to acquire land for K-Rail.

The main drawback is that no significant effort has been made to mobilize additional resources. They had to look for ways to stimulate the economy. When raising revenue is only through tax collection, areas need to be found for it. But the finance minister has tried not to quarrel with any section.

Every budget aims at growth and thereby the progress of the people. As the productive sectors awaken and become more active, employment will increase. If the new ideas in the budget are implemented, it will further strengthen the foundation of future Kerala. Unfortunately, the budget allocation was not fully spent in the current fiscal year. A firm decision has to be taken to implement the projects in the budget in a timely manner.