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The LDF's policy was to make PSUs profitable instead of downing their shutters.
Resource mobilisation efforts were modest. The common man may not have anything to complain.
Government had sold the story of Centre fiscally strangulating the state so well that it was a budget with very low expectations despite being a pre election one.
The budget expects a revenue of Rs 1,38,655 crore and expenditure of Rs 1,84,327 crore.
Finance Minister K N Balagopal announced the decision as he resented the state budget on Monday.
Sitharaman did not find the Bishop's offer hard to refuse and failed to address the Kerala rubber sector's nightmare of unrestricted imports of natural rubber.
Moreover, the Reserve Bank of India (RBI) has stopped monetising the government deficit long ago.
The cesses on fuel and liquor were sold as a kind of 'social responsibility' obligation. These cesses were to flow into a fund that would pay welfare pensions to over 60 lakh people.
State Bank of India (SBI) had earned a net profit of Rs 14,205 crore in the year-ago period.
The government itself has admitted to the crisis and added that the coming financial year would be worse.