Balagopal, Finance minister of Kerala who met the media here on the last day of the 2022-23 financial year, said there was a shortage of Rs 40,000 crore in this financial year due to the policies of the Centre. He also said that despite the adverse situations, Kerala managed to perform well in terms of income and expenditure. Everything was paid on time, including the salary, pension, and loan repayment. Local governments contribute more than 96% of the project cost. Many panchayats have used all of the allocated funds, and the treasuries have operated without a hitch, according to Balagopal.
He claimed that prudent financial management enabled the state to function effectively despite obstacles. Kerala endured severe economic hardships as a result of the Union government’s unfavourable policy measures. The policies of the Centre resulted in a shortfall of Rs 40,000 crore this fiscal year, he said. Balagopal advised the opposition parties to speak out in support of Kerala.
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