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Kerala's Chief Minister V D Satheesan will present the revised 2026-27 Budget, noting a ₹20,000 crore deficit out of ₹35,000 crore. A white paper suggests PSU disinvestment, but lacks a clear plan for welfare-oriented entities.
The Finance Minister faces a critical budget, needing to fund manifesto guarantees and growth through pragmatic reforms like asset monetisation, divestments, and leveraging IT infrastructure, mirroring India's 1991 economic reforms.
Kerala's new government inherited ₹48,733 crore in liabilities, including employee arrears and pending payments. The state's treasury position has worsened significantly, exacerbated by the end of central government financial support.
Kerala Planning Board vice chairman V K Ramachandran presented a starkly different fiscal assessment than that of Finance Minister K N Balagopal, describing a 'crisis' due to insufficient funds preventing the completion of plans, though he framed this as a national issue stemming from the central government's revenue centralisation.
The Union Budget 2026-27 has introduced a significant tax holiday until 2047 for foreign companies utilizing Indian data centers to provide global cloud services, aiming to transform India into a major hub for Artificial Intelligence and digital infrastructure by incentivizing data center investment and positioning the country as an export base for cloud computing. This initiative aligns with India's ambition to lead global AI discussions, underscored by its upcoming hosting of the India AI Impact Summit, and follows substantial investments pledged by tech giants like Microsoft and Google in AI infrastructure and data centers. The policy is viewed by industry leaders as a crucial step in strengthening India's technological ecosystem, enabling it to become a global center for designing and running mission-critical systems, and reinforcing data sovereignty and a resilient digital economy.
26 civic bodies across the country have raised ₹ 3,783.9 crore through municipal bonds.
LSG Minister M B Rajesh told Onmanorama that the survey report is a fitting reply to those who have mocked the Kerala model.
Finance minister K N Balagopal constantly grumbles about the vindictive manner in which the BJP-led Centre goes about restricting Kerala's access to development funds.
Finance Minister stressed that the cut in GST rates would drive domestic demand.
Over 13 lakh employees and workers in the state will benefit from these Onam payments.
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