THIRUVANANTHAPURAM: Amid a financial crisis, there are signs of a reduced planning scheme allocation for the upcoming year. Last year's project allocation saw a decrease from 39,665.19 crores to 38,629.19 crores with a central share of 8,259 crore. The state needs to secure over 30,000 crores having deferred 23,000 crores already. Consequently, next year's plan share is anticipated to decline.

The looming Lok Sabha elections push for an early presentation of the 2024-25 budget in January. The Finance Department and Planning Board are in final consultations with departments. Speedy processes like subject committee meetings and grant discussions are underway.

Presenting the budget in February or March risks incomplete procedures before elections. Early budget approval ensures smoother project implementation and expenditures from the fiscal year's start. Crafting a popular budget amidst the financial crunch poses challenges, especially considering potential increases in welfare pensions. Tax hikes on services and fuel cess, implemented in the last budget due to the economic crisis, might not be feasible this time.