The measures are in the wake of the Centre slashing Kerala's borrowing limits and the severe economic crisis that the State is grappling with
Kerala Finance Minister K N Balagopal, who is known to be a sedate and balanced person, surprised his audience when he referred in his budget speech this year to the Russia-Ukraine war in the context of the economic problems it may entail.
This time Balagopal is more realistic. He has estimated only a 25% increase in the state's own tax revenue during 2022-23 fiscal. It has been more than a decade since tax growth touched 25% in Kerala.