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Rubber occupies a significant percentage of the gross cropped area (21.8%)
The budget projects a revenue receipt of Rs 1.35 lakh crore and a revenue expenditure of Rs 1.76 lakh crore. Revenue deficits of Rs 23,942 crore (2.1 per cent of GSDP). Fiscal deficit of Rs 39,662 crore (3.5 per cent of GSDP).
On Friday, Kerala's Finance Minister KN Balagopal will present his third budget.
The main aim of the budget would be overcoming the deep financial crisis which has gripped the state.
The Economic Review was tabled in the Kerala Legislative Assembly on Thursday prior to the presentation of the State Budget.
Stating that the proposals in the Budget were not beneficial for people at the grassroots level, Balagopal flagged the drastic cuts in allocations for major schemes.
The government may also increase the fair value of land by 10 percent and hike the motor vehicle tax.
Despite the loss of tax revenue and various financial restrictions on the state, Kerala was one of the 4-5 states of the country which showed economic growth across various sectors in the last year, Balagopal said.
Last fiscal, the state's own revenue had increased by Rs 17,000 crore.
The meeting discussed the financial crisis being faced by the state ahead of the Budget presentation on February 3. Though the ministers raised the issues related to the financial crisis, the Chief Minister did not react.
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