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Kerala State Announced State Budget 2019

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Kerala Finance Minister Thomas Isaac presented the state budget for the year 2019-2020.

The Finance Minister pointed that the state economy was on a growth path.

Key Highlights of the budget are:

  •          Special assistance for traders in the budget
  •          Rs 170 crore for handloom industry
  •          Khadi sector gets Rs 14 crore
  •          Handicrafts development gets Rs 3.5 crore
  •          Rs 84 crore for IT parks
  •          IT sector gets Rs 574 crore
  •          Incubation and acceleration support helped grow start-up ecosystem in Kerala
  •          Kerala Bank when formed will be the largest banking network in the state. Most modern banking services will be ensured through Kerala Bank
  •          Geo-textiles will be promoted under Rebuild Kerala
  •          State to promote electric vehicles. Electric vehicles by 2020 targets 10 lakh vehicles
  •          Rs 500 crore for rubber support price
  •          1.16 lakh sq ft of IT space will be created
    •          Rs 141 crore sanctioned for industrial parks

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