Kerala has survived the financial crisis, says Balagopal

Kerala Finance Minister K N Balagopal on Friday said that the state has survived the most intense phase of financial crisis. Presenting the second Pinarayi Vijayan-led government's fifth budget in the Legislative Assembly, Balagopal announced a Rs 750 crore project for the rehabilitation of the Wayanad landslides victims."The growth rate of the state economy has touched 10.5 per cent. The revenue deficit of the state could be brought down,’’ the finance minister said in the Kerala Assembly. He was presenting the second Pinarayi Vijayan-led government’s fifth budget in the Legislative Assembly in Thiruvananthpiuram.
Balagopal also said, "The central government's neglect did not begin suddenly. It is the cause of Kerala's financial crisis. The Finance Commission has been consistently reducing the allocation every year. It is due to the increase in our own revenue that the state has been able to function despite central neglect. Our own revenue has grown to Rs 1,35,240 crore."
During his address, the minister also said that despite the financial crisis faced by the state, it carried out all social welfare schemes and development projects.Budget discussions will take place on February 10, 11, and 12, while the debate and voting on supplementary grant requests will be held on February 13.