Thiruvananthapuram: The Kerala Budget for the financial year 2023-24 is being prepared with the State Finance Department planning to present it to the Legislature on January 27. The date would be confirmed in the next Cabinet meeting.
In view of the persistent financial crunch an increase in social security/welfare pension is unlikely as in the last Budget. However, an increase of 10 per cent is expected in the land fair price this year also, like in the previous year.
The Left Democratic Front Government had promised in the election manifesto that welfare pensions would be raised in a phased manner from the current monthly handout of Rs 1,600 to Rs 2,500.
As of now, Rs 770 crore is being spent to provide welfare pensions to as many as 50.48 lakh people in the State. The pension, which used to be distributed once in three or four months earlier, was decided to be distributed every month right before the last Assembly election.
However, the officials have informed Finance Minister K N Balagopal that the department is not able to fulfil even this assurance of monthly pension distribution in the present state.
The Budget for the current financial year was presented on March 11, 2022.
For all the latest business News Click Here
