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