Thiruvananthapuram: The UDF government's maiden Budget presented by Chief Minister and Finance Minister V D Satheesan in the Kerala Assembly on Friday outlined an ambitious roadmap to transform Kerala into a hub for higher education, innovation, entrepreneurship and investment.

A major highlight of the Budget was the announcement of the Kerala Knowledge Valley project, for which ₹100 crore has been earmarked. The initiative aims to position Kerala as a premier destination for higher education by attracting leading foreign universities to the state through a dedicated legal framework.

Satheesan said the government would amend the Private Universities Bill to facilitate the entry of top international universities and promote collaborations with globally reputed institutions. The move is intended to provide students with world-class educational opportunities within Kerala, reducing the need to pursue higher studies abroad.

The Budget also proposed measures to strengthen Kerala's emerging space sector. Recognising the rapid growth of private space technology startups, the government allocated ₹5 crore to support and encourage innovation in the sector.

In a push to boost entrepreneurship and employment generation, the government announced plans to establish 10,000 micro, small and medium enterprises (MSMEs) across the state. A Global Job Watch Tower will also be set up to track employment trends and opportunities, helping align skill development initiatives with global job market requirements.

To enhance Kerala's attractiveness as an investment destination, the Budget proposed the establishment of a Global Convention Centre at Kochi airport. The facility is expected to support international conferences, business events and investor meetings.

The government also announced the creation of a specialised, data-driven Invest Kerala Cell to facilitate investment promotion and provide strategic support for attracting domestic and international investors.

The announcements form part of the UDF government's broader strategy to position Kerala as a knowledge economy driven by education, technology, innovation and global investment.