Economy

Purposeful and meaningful Budget: CII - Kerala

Our Bureau Kochi March 19 | Updated on November 14, 2017 Published on March 19, 2012

The Confederation of Indian Industry, (CII) - Kerala has hailed the State budget, presented by the Finance Minister, Mr K.M. Mani, as ‘purposeful and meaningful' and a reflection of the Government's focus on enhancing the infrastructure and modernising the agriculture sector.

It was also heartening to note that specific infrastructural projects have been identified and funds provided for it - Kochi Metro, Vizhinjam port, monorail projects, Vallarpadom project, Kozhikode cyber park, industrial park in Bhramapuram being examples.

This clearly showed the Government's seriousness in improving the physical infrastructure that is clearly inadequate at this point of time.

The move to set up hi-tech bio parks, Greenhouse farming, rice bio park, coconut bio park initiatives are demonstration of the Governments intent to transform the agro sector, CII said in a statement issued here.

The budget is a realistic assessment of the economic situation and is well balanced when it comes to revenue and fiscal deficit management.

A slew of initiatives that will benefit the State citizenry have been announced in health care, water supply, slum rehabilitation, power supply and transportation. This is most welcome.

“One of the most welcome announcements pertains to the promotion of basic infrastructure. The CII has always been articulating that a sound infrastructure is absolutely critical to the socio-economic transformation of the State. I am glad that this has been recognised through a substantial allocation of funds for its development.

“It is also heartening to note that a few big ticket projects have found a mention in the budget and significant outlays earmarked for them. In general, this is a forward looking budget” stated Mr V.K. Mathews, Chairman, CII-Kerala State Council and Executive Chairman of the IBS Group.

“Overall the impression that one gets, is that the Finance Minister of Kerala has strived to make this budget an essentially, populist one.

Small amounts of money have been allocated to innumerable projects across the State.

“The pitfall, however, with this approach, is that, very often, there is not enough bang for the buck, that is the sums granted are so small that they will not be effective in achieving what the money is supposed to do.

“For example, the funds allocated to the big ticket projects such as the Cochin Metro Project and the Vytilla Mobility Hub are small for the projects of their size” says Mr C.J. George, Vice-Chairman, CII Kerala State Council & Managing Director, Geojit BNP Paribas Financial Services Ltd.

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Published on March 19, 2012
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