Kochi has something to cheer about in the annual Budget presented by Finance Minister K.N. Balagopal in the State Assembly on Friday (February 7), though major concerns like financial aid for road development remain unaddressed.
The Kochi-Sustainable Urban Restructuring Project, aimed at transforming the city’s urban areas into planned, vibrant spaces, is a key initiative in the annual Budget. The Budget has allocated ₹10 crore for the project, which will cover 210 hectares excluding the island area, and will be implemented with private participation. The project is expected to be extended to other urban areas across the State in the future, according to the Budget speech.
The Kochi-Muziris Biennale, which, according to the Finance Minister, has elevated Kerala’s position in the global cultural landscape, will receive ₹7 crore for its 2025–26 edition. A ₹4-crore Maritime Cluster Project has been proposed in the holding owned by Kerala Construction Components Limited in Kochi. The Kochi PetroChemical Park project will get ₹30 crore for its infrastructure facilities.
The Kochi-Palakkad Hi-Tech Industrial Corridor, part of the Kochi-Bengaluru Industrial Corridor, will receive a support of ₹200 crore, while Infopark, Kochi, will be sanctioned ₹21 crore. The Technology Innovation Zone in Kochi will receive ₹20 crore in support.
The Asian Development Bank-aided Kerala Urban Water Supply Improvement Project, aimed at ensuring 24×7 water supply in Thiruvananthapuram and Kochi, will receive ₹75 crore.
“The Kerala State Housing Board will complete the Marine Eco City project at Marine Drive,” the Finance Minister said in his Budget speech.
