Kerala budget: Rs. 20000 crore Special Deposit scheme to overcome financial crisis

Friday, Jul 8, 2016,10:04 IST By metrovaartha A A A

Thiruvananthapuram | Kerala Finance Minister Do. Thomas Isaac has announced Rs. 20000 crore Special Deposit scheme to overcome the state’s financial crisis.

50 percent of tax collected by Motor Vehicles Department, and petrol cess will be accrued towards this fund. The amount will not be deposited in Govt. treasury, the minister said while presenting the Budget for Financial year 2016-17.

Other main features of the budget declarations:

Arrears of welfare pensions will be paid before Onam. The amount will be disbursed through banks.

Free ration for workers under Thozhilurrappu scheme.

Land acquisition will not be stalled due to shortage of funds.

Cheraman financial services will be rejuvenated.

KSDP will be reinvigorated. A modern drug manufacturing factory will be constructed.

Thiruvananthapuram Medical College will be upgraded to AIIMS level.

Rs. 10 crore for endosulphan-affected families.

Rs. 450 crores will be allocated to buy house for Scheduled Tribes.

Rs. 100 crores for horticulture development.

Additional Rs 100 crore for coconut procurement.

To help Rubber farmers Rs. 500 crores will be allocated for price stabilization fund.

Free uniform for students of Government schools upto std. 8.

Basic infrastructure development scheme for all Government professional educational institutions.

Rs. 1000 crores to improve standard of government schools.

Water Authority will not hike rate.

Rs. 500 crores for Kochi Smart City.

Rs. 18 crores for Sahitya Academy, Fine Arts Academy and Folklore Academy.

Artists’ pension will be increased to Rs 1500 per month.

Rs 500 Crores to build multi-purpose indoor stadium in all districts.

Rs. 295 crores for the construction of 14 railway overbridges.

Rs. 1475 crores for construction of 68 bridges.

Rs 50 crores as State’s share for Sabari Railway.

Rs 150 crores for construction of 8 fly overs.

KSRTC will be given loan to buy 1000 new buses run on CNG fuel.

Budget allocation for Kudumbashree will be raised to Rs. 200 crores. It will be given loans at the rate of 4 percent.

Allowance of members of local bodies will be doubled.

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