Kerala Finance Minister K.N. Balagopal signalled optimism and caution while presenting the final Budget of the second Left Democratic Front (LDF) government in the Kerala Legislative Assembly on Friday.
Mr. Balagopal announced that the State had “overcome the trying times of severe fiscal constraints” without reducing developmental and welfare activities. He predicted a phase of rapid economic growth. He claimed Kerala was in a “take-off stage,” given the State’s sizeable human capital.
Nevertheless, he displayed a foreboding about how wars and economic, social and political upheavals consuming the world would impact Kerala, chiefly its vast emigrant population’s fiscal and employment prospects and contributions to the State.
Mr. Balagopal obliquely criticised the Trump administration’s alleged expansionist and protectionist policies that were arguably sowing global chaos. He said the voices of autocracy and dictatorship exceeded all political and social dignity limits. “The person who vows to annex Greenland, claims ownership of the Panama Canal and aspires to rid Gaza Strip of its occupants and transform the land into a tourist destination has become the leader of the world’s strongest nation,” Mr Balagopal said.
He said fear, hatred and warmongering had pervaded the world. “Many fear a return of the grim direness that marked the World Wars and also the colonial and imperialistic era,” he added.
Global challenges
Mr. Balagopal said India and Kerala were not insulated from the political and economic fallouts precipitated by the inconsistency in global politics, trade, and commerce. Mr. Balagopal said Kerala should steel itself to face the impending global challenges. It should strengthen the State’s democratic and secular values and uphold the polity’s progressive perspectives.
“Every Budget is a testament to its times, encompassing a people’s political, cultural and social life. In that sense, every Budget is a historical document,” he added.
Mr. Balagopal noted that Kerala would soon become an urban continuum. “This has its advantages and disadvantages. Rapid urbanisation could spur the State’s development and serve as an engine of growth. Conversely, urban sprawl can become a hindrance to the State’s development. Kerala will have to walk a tightrope to address these issues,” he added. He also expressed concern about the falling birth rate and bourgeoning geriatric population. He stated that Kerala had remained an oasis of peace and tranquillity, even as unrest, societal discord, and conflict engulfed other parts of the world. He said communal cohesiveness and fraternity were the bedrock of Kerala’s progress. “Kerala’s citizens are conscious of the political statement’s vital import,” he added.
