The first complete budget of the second consecutive LDF government in Kerala was presented by Finance Minister KN Balagopal in the assembly on Friday. The budget for the financial year 2022-23 emphasises the transformation of Kerala from a knowledge society to a knowledge economy.
The budget gave a special focus for boosting the knowledge economy, envisaging four science parks, four IT corridors along the south-north national highway, 20 micro-IT parks and skill parks in every district for young entrepreneurs to start ventures. Kerala has announced Rs 25 crore to set up industrial units and startups adjacent to engineering colleges, polytechnic institutes, Industrial Training Institutes (ITIs) and arts and science colleges, so that students will be benefited. In the 2022-2023, Rs 2,546.07 crore has been allocated for the education sector.
The budget has also considered Rs 15 crore for making the educational institutions in the state disabled-friendly. Out of Rs 2546.07 crore, “Rs 1016.74 crore is for school education, Rs 452.67 crore to higher education and Rs 245.63 crore for technical education. Also, an amount of Rs 831 crore is expected from centrally sponsored schemes,” announced the Finance Minister.
Rs 200 crore has been set aside for developing translational research centres, startups and incubation centres in universities. The funds will be allocated to 10 state universities through the Kerala Infrastructure Investment Fund Board (KIIFB).
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The budget also gave emphasis on skill development. An amount of Rs 140 crore was allocated to skill training centres at arts and science colleges, professional colleges, polytechnic colleges and ITIs.
Apart from this, Rs 200 crore has been announced to various schemes under Kerala Development and Innovation Strategic Council (KDISC). “K-DISC is an agency working with the broad objective of continuously improving and innovating educational skill development,” the budget presentation said.
Another boost to skill development was Rs 350 crore allocation to district skill parks in the state. “District Skill Parks will be established in all districts under the aegis of the Mission in a phased manner. 50% of the total land area of the skill park will be reserved for prominent firms which have proved their expertise. It is targeted to provide operational facilities to experienced entrepreneurs through this,” the budget presentation said.
Skill development initiatives in the state are expected to get a major boost with an allocation of Rs 350 crore for setting up skill parks in all 14 districts. The project will be implemented under the aegis of the Knowledge Economy Mission using funds from KIIFB. Around Rs.78 crore has been allocated to the development of engineering and polytechnic colleges in the state.
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