Kerala Budget: Rs 8,900 crore direct disbursal scheme courts controversy
3 min read By Express News Service
THIRUVANANTHAPURAM: The Rs 8,900-crore direct disbursal scheme introduced by Finance Minister Ok N Balagopal within the finances below a Rs 20,000-crore Covid package deal courted controversy after he clarified that the arrears for contractors and monetary help for these not a part of any pension or welfare schemes are a part of the brand new stimulus plan.The transfer invited sharp criticism from the Opposition who alleged that the finance minister has actually amended his finances speech after its presentation.
“The minister had announced during the budget presentation that money would be distributed directly to those who are in crisis due to the loss of livelihood. But how can the distribution of arrears to contractors or pension benefits announced earlier be called as a new direct benefit scheme or part of a financial stimulus scheme?” requested Opposition Leader V D Satheesan.
“This is simply misleading the public by announcing a scheme through the budget,” he mentioned.While asserting the second Covid package deal of Rs 20,000 crore to face the socio-economic and well being challenges which might be rising within the backdrop of the second wave, the minister mentioned Rs 2,800 crore shall be spent to face the well being emergency, Rs 8,900 crore for disbursing cash on to those that are in disaster because of the lack of livelihood, and Rs 8,300 crore in the direction of curiosity subsidy for loans supplied for financial rejuvenation.
PACKAGE SHORTFALL: ISAAC CLARIFIES FOR BALAGOPALEx-finance minister T M Thomas Isaac dismissed Opposition chief V D Satheesan’s allegation that there was confusion within the I20,000-crore second Covid package deal. The second package deal is much like the primary introduced final 12 months, which addressed the challenges posed by the pandemic, he instructed reporters, including the quantity earmarked needn’t be included in finances speech, Isaac instructed reporters.
“Satheesan’s charge is that as per budget document, the excess expenditure is only I1,715 crore. This is what has been announced. However, there is an increase of another I2,605 crore within the budget. Even if both the amounts are added, it will not reach I20,000 crore. The reason (for this gap) is that I8,300 crore has been earmarked for SMEs as the government’s interest subsidy through Kerala Bank, KFC and Kudumbashree,” he mentioned.
‘PACKAGE NOT LISTED IN BUDGET ESTIMATE’The Opposition alleged the I20,000-crore package deal was not listed within the finances estimate. “In that case, the revenue deficit will increase to I37,000 crore. Former finance minister T M Thomas Isaac had announced during the last budget that the new government will not have any financial crisis as the exchequer will have a balance of I23,000 crore, including last year’s balance of I5000 crore and I18,000 crore to be provided by the Centre. But the budget has no mention about this,” Satheesan mentioned.Welcoming the choice to deduct I3 crore from the asset improvement fund of MLAs for Covid containment measures, he mentioned the brand new revised finances has extra political statements than coverage choices.
