Kerala Budget 2023-24 Government. to provide Rs1,000 crore to 'Make in Kerala'

Kerala Finance Minister KN Balagopal on 3 February presented the state budget for the fiscal year 2023-24 in the State Assembly and allocated Rs1,000 crore to 'Make In Kerala'.

Under the 'Make in Kerala the minister declared that facilities and infrastructure will be built to boost the domestic production and also to create the employment of entrepreneurs, opportunities for investment in Kerala.

He also informed us that a thorough study of Make an impact in Kerala was carried out in collaboration with the Centre for Development Studies.

Based on the data Kerala imported goods of around $18,000 in 2021-2022 of which 92 percent came from other states.

Between 2021 and 2022 the value of Kerala's exports was around Rs74,000 crores. 70% of it went for other states. The data indicates a huge trade deficit, needing "Make in Kerala", said the official.

Examining the efficiency of workers, their expenditure on earnings and wages, measures were taken to find items that could be manufactured in Kerala and to support them according to the minister.

In the program that the state will provide to Agritech startups who create valuable products and services and the aid with regard to interest subventions to identify capital for businesses and identifying capital for enterprises, will be offered.