Kerala Budget Highlights

Highlights Financial Proposals


  • The Budget allocates ₹1,000 crore for acquiring land for the development of various IT parks.

  • ₹1,000 crore is earmarked for setting up four science parks in the State.

  • Four new IT corridor will come up parallel to NH66 and new IT parks in Kannur and Kollam.

  • ₹100 crore is budgeted for basic infrastructure development in the IT sector.

  • ₹200 crore allocated for Kochi-Bengaluru industrial corridor project.

  • The proposed outer ring road project in Thiruvananthapuram to receive ₹1,000 crore for land acquisition.

  • Silverline semi high-speed rail project to get ₹2,000 crore.

  • ₹1207.23 crore for the development of roads and bridges.

  • Housing under Life Mission to get ₹1771 crore.

  • ₹1600 crore for various works under Rebuild Kerala Initiative.

  • ₹100 crore for basic infrastructure projects in Kuttanad.

  • ₹200 crore each will be allocated to tackle traffic blocks in the 20 busiest junctions and construction of six bypass roads.

  • ₹239 crore earmarked for the second phase development works of Kochi Metro.

  • Allocation of ₹9.65 crore made for developing the Malabar International Port that is bound to benefit north Kerala and south Karnataka.

  • Pre-production centre for graphene-based materials to be established in Ottapalam.


  • ₹500 crore will be set apart for rubber subsidy.

  • Agri-tech facilities will be set up in all districts at a cost of ₹175 crore.

  • ₹30 crore allocated for Cooperative Initiatives in Technology-driven Agriculture scheme.

  • Kerala Climate Resilient Agri Value Chain Modernization Project to be launched.

  • ₹18.92 crore is set apart for the expansion of area under Pomiculture.


  • ₹1.5 crore earmarked for a pilot project to launch stem cell therapy in Government Medical College, Kottayam.

  • Karunya Arogya Suraksha Padhathi, the State’s health insurance plan, gets an allocation of ₹678.54 crore.

  • A remittance account will be opened to accept voluntary contributions by those availing treatment facilities in government hospitals.

  • ₹29 crore is earmarked for a new scheme to install surgical robot at Thiruvananthapuram Medical College.

  • Special cell in Norka department to assist students who returned from war-torn Ukraine.

  • Milk and egg to be provided to children twice a week in Anganwadis.

  • Five-year plan for waste management in the State.


  • ₹200 crore earmarked through the Kerala Infrastructure Investment Fund Board (KIIFB) to provide assistance of ₹20 crore each to 10 universities.

  • ₹100 crore allocated for the development of 1,750 hostel rooms adjacent to universities.

  •  20 crore will be provided to the universities to start new courses.

  • ₹350 crore for setting up skill parks in all districts, start-ups in universities and support to the varsities to start new short-term courses.

  • Govt engineering colleges to have interdisciplinary research centres

  • ₹35.1 crore allocated for ASAP Kerala offering skill development programmes.

  • Centre of Excellence in Microbiomes, Centre of Excellence in Nutraceuticals and Medical Technology Consortium to be set up.

  • International AI conclave to be held in association with IBM in July 2024 as part of efforts to make Kerala a hub of Artificial Intelligence. The General Education Department will impart training in AI.

  • A round-table conference involving research institutions and robotics companies has also been planned in August 2024 to explore the possibilities in the field of robotics


  • One instalment of DA for government employees and pensioners to be disbursed in April.

  • Allocation of ₹12,903 crore for Local Self-governments.

  • Judicial city to be set up in Ernakulam.

  • Insurance scheme to be introduced for anganwadi workers.

  • Safari parks to boost tourism prospects in North Kerala

  • An allocation of ₹27 crore for Sabarimala master plan.

  • KSRTC gets an allocation of ₹128.54 crore.

  • No hike in social security pensions.

•    Tax and registration fees to be reduced for All India tourist buses registering in the State by 25 to 33.3 per cent.

•    Fair value of land and land tax will be revised.

•    Stamp duty for land, building lease agreements to be increased.

•    Government to offer yet another amnesty scheme to traders

•     Gallonage fee on Indian Made Foreign Liquor set at ₹10 a litre.

•    Electricity duty of 1.2 paise per unit for consumers who generate and consume energy for their own consumption raised to 15 paise per unit.

•    Electricity duty on sale of electricity enhanced from 6 paise per unit to 10 paise per unit.

•    Court fee on cases relating to dishonouring of cheques hiked from ₹10 to ₹250. In cases involving more than ₹10000, it will be five per cent of the amount. Rate for appeals and revision petitions, property related matters in family courts also raised.

•    A filing fee of 0.1% of the loan amount subject to a maximum of ₹10,000 will be charged from financial institutions for compulsory online filing of agreements relating to the Deposit of Title Deeds in Sub-Registrar's offices.

•    Stamp duty slabs for lease deeds will also be revised.

•    Registration fee concession for agricultural, educational and other loans from commercial banks will be extended to release deeds also.

•    ₹200 crore will be generated annually through fee charged for electronically recording mortgages in the ReLIS portal of the Land Revenue Department.

•    An Amnesty scheme will be brought in to realise lease rent on government land from individuals and institutions.

•    Extraction of river sand from Bharatapuzha, Chaliyar and Kadalundi rivers will be resumed to fetch ₹200 crores

  • Additional Expenditure announced: (-)1420.00 cr.
  • Additional resource mobilisation: 1067.00 cr.
  • Cumulative Deficit at the end of the year: (-) 273.94 cr.