THIRUVANANTHAPURAM: The state Planning board meeting held under the chairmanship of Chief Minister Pinarayi Vijayan approved Rs 30,370 crore for development plans. The cabinet meeting on Wednesday may consider this while the central allocation has not been decided yet. Rs 30370 crore scheme was introduced in the state budget in 2023. At the same time, there has been an increase of 0.5% in the scheme allocation of local bodies.

Rs 15966 crore has been spent from last year’s allocated budget. The financial year will end in three months. If the developmental plans are to be completed in this time frame, additional money is a requisite. It is doubtful that it will be possible in the current economic situation of the state. The remaining borrowing limit of the state is less than 5000 crores. Even day-to-day things, including salaries and pensions, will require more funds. Considering the crippling economic state, the government may have to work on ways to get additional funds.

The government was under heavy pressure to cut down the project funds for this year, but the CM stood firm in his decision not to compromise on development projects. Like in 2023, the same amount was allocated this year too. Rs 8258 crore was allocated to local bodies last year, a tad more than what was allocated in 2023. Last year, the central fund was 8259.19 crores but there is ambiguity about the allocation this year.

Due to the financial crisis and uncertainty in central funds, there was a delay in approving the Planning Commission document. It is known that this time the budget will be presented on February 2. A decision may be taken in the cabinet meeting today.