Kerala State Announced State Budget 2019

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