Revised Budget pledges 'New Kerala' with inclusive growth, sustainable development

THIRUVANANTHAPURAM: Kerala Chief Minister V D Satheesan, who also holds the Finance portfolio, on Friday presented the revised Budget for 2026–27 in the Assembly, pledging to build a "New Kerala" with inclusive growth and sustainable infrastructure development.

Citing severe fiscal stress, hidden liabilities, lower remittances and inflation as key challenges before the government, the CM unveiled Mission Samudra to build a port-led economy, elevate the state as a global maritime and economic hub.

The government is committed to stimulating the economy through broad-based development strategies, attracting large-scale investments across various sectors, mobilizing financial resources for the public exchequer, and ensuring the equitable distribution of wealth, the CM said.

"To achieve these objectives, I will now outline the government’s flagship initiatives," he said.

By integrating Kerala’s 600-kilometre coastline, two international ports, one container transshipment terminal, 17 non-major ports, and numerous other water-based resources, the government aims to establish Kerala as a major presence on the global maritime map within the next five years.

The vision is to transform Kerala into a port-led economy by developing a maritime ecosystem that connects roads, seaports, railways, inland waterways, industrial zones, and greenfield cities.

He said that Rs 400 crore will be allocated to the Mission Samudra project.

Satheesan said that the government was committed to stimulating the economy through broad-based development strategies and announced Rs 200 crore for turning the state into an aviation and logistic hub centered around its four airports.

Besides that, the government will also launch a Data-based Invest Kerala cell to attract investment by addressing key business bottlenecks, the CM said in his Budget speech.