Thiruvananthapuram: Kerala Finance Minister K N Balagopal will present the second Pinarayi Vijayan-led government's fifth budget in the Legislative Assembly on Friday.

He will start presenting the budget by 9 am. Budget discussions will take place on February 10, 11, and 12, while the debate and voting on supplementary grant requests will be held on the February 13.

As the budget to be presented on Friday is the last full budget of the Left government ahead of the 2026 Assembly polls, analysts say that it is likely to be a mixture of populist measures and a roadmap for development of the state.

Balagopal has said that despite financial difficulties caused by the central government's policies, the state government's welfare and development programmes will continue without cuts.

Kerala Government Blames Financial Strain On Central Policies

The Left government claims that the reduced central allocations, non-payment of the central share in joint projects, and restrictions on borrowing limits have put pressure on the state and it was surviving because of the measures taken by the government for revenue generation.

Left analysts say that the state's own revenue now makes up 60 per cent of total income and the budget is expected to reinforce this commitment, giving confidence to the people of Kerala.

According to them, in 2015-16, Kerala's own tax revenue, which stood at Rs 39,004 crore, had increased to Rs 58,359 crore by 2021-22 and as per revised estimates for 2023-24, it had risen to Rs 77,058 crore.

Similarly, non-tax revenue had also doubled from Rs 8,425 crore to Rs 16,853 crore over the past eight years.

The finance minister, while expressing concerns over the central government's "unfavourable financial policies" towards Kerala, has said that the Vijayan-led government was committed to overcoming these challenges, ensuring both economic growth and social security.

However, opposition Congress-led UDF said that Kerala is facing a severe financial crisis.

Addressing a press conference here, Leader of Opposition in the State Assembly V D Satheesan said the project allocations are being cut and funds for local bodies have also been reduced.

"Even minority scholarships are not being provided. Stipends for Scheduled Caste and Scheduled Tribe students have been withheld. How will children continue their education? Despite these budget cuts, the minister dismisses concerns as baseless. The government has no money left," he alleged.

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