The Left government in Kerala has achieved a significant increase in revenue, rising from Rs 47,000 crore in 2020–21 to Rs 77,000 crore in 2023–24, according to state finance minister K.N. Balagopal.
"We've managed a record increase in the state's own revenue even as the Centre financially squeezes us. The state's own tax revenue rose from Rs 47,000 crore in 2020–21 to Rs 77,000 crore in 2023–24," Balagopal said.
He noted that this represents a 60% increase in the state's own tax revenue over just three years.
"Without this increase, Kerala's economy would have collapsed due to the central government's anti-state policies." The minister added that the state government is actively addressing the crisis caused by the Centre's reduction in tax allocations and debt limits.
Balagopal, a senior CPI (M) leader, highlighted that Kerala successfully brought national attention to the Centre's alleged discriminatory approach by mobilising the state's people and organising a protest in New Delhi. This protest, led by the Chief Minister and including ministers and people's representatives, underscored the issue.
In a Facebook post, Balagopal also mentioned the state government's legal battle in the Supreme Court to secure its rights from the Centre.
Other states have followed Kerala's example, filing similar cases in the Supreme Court, emphasising the importance of this issue for federalism, Balagopal said.
The minister claimed that national leaders have acknowledged Kerala's stance on the issue.
"Through the last three budgets, the government has initiated several crucial projects for Kerala's future. These multi-pronged schemes aim to boost production, income, and employment opportunities," the minister said.
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