'Kerala ready for very good development in infrastructure, industrial sectors'

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'Kerala ready for very good development in infrastructure, industrial sectors'

As a state, Kerala is ready for very good development in infrastructure, industrial and services sectors that will create more job opportunities, Balagopal, the state's finance minister, said.

Amidst worries about the state's financial health, he said revenue generation has made a 'giant leap' to Rs 71,000 crore in the last fiscal but the central government's'step motherly' treatment has resulted in a liquidity crunch.

The left-ruled Kerala has been challenging the BJP-led centre's fiscal policies, including alleged delay in releasing GST funds and curbs on the state in terms of raising money.

Referring to the steps taken by the finance department for better revenue generation, the minister said the second Pinarayi Vijayan government, which came to power in 2021, has made a giant leap in state-owned tax revenue and claimed it was an indication of Kerala's economic growth.

Balagopal, a senior state CPI leader, criticised the Central BJP-led government, saying it was denying Kerala's legitimate shares from various sources, causing a significant liquidity crunch.

The Fitch Ratings has recently revised the outlook for the Kerala Infrastructure Investment Fund Board to stable from negative.

The financial position of the state was evaluated by Fitch Ratings and they calculated how revenue generation is happening, how investment capital generation is happening, and how debts are getting lower. There is a notable improvement in all these areas post-covid-19', he said.