Home / News / India /  This state hikes petrol, diesel prices by 2 per liter. Check new rates

K N Balagopal, Kerala's finance Minister on Friday presented the budget for the 2022-23 financial year in the legislative assembly. The minister while presenting the budget has announced a hike of 2 per litre in petrol, diesel prices.The minister said that the Centre's assistance to the state has been reduced and a financial crunch is expected this year. The minister announced that 2,000 has been allocated by the government to check inflation. As of 3 February, 1 litre of petrol costs 107.71 and a litre of diesel costs 96.52  in the state capital Thiruvananthapuram.

Here are the key takeaways from the Budget:

The budget allocated 3400 crore to the KSRTC.

The Finance Minister announces a special Research and Development budget as part of the thrust towards creating knowledge economy.

Balagopal said the State has been making efforts to retain the youth in the State and minimise their migration to other countries.

"Young people going abroad for education and employment and settle abroad. This requires central expression schemes. The government spends 50,000 per student per year. Second-generation development activities require the State government will make youth to stay in the state by creating better living facilities and new job opportunities," the minister said.

The finance minister said that setting up a digital Science Park in Technopark, in the state capital Thiruvananthapuram will be over by May and said that construction of an IT park in Kannur will begin this year.

The minister said that 1000 crore will be allocated for the 'Make in Kerala' during the project period. 100 crore has been earmarked for next year.

Budget allocated 300 crore for waterway development and 133 crore has been allocated for the development of 1933 km of highways in Kerala.

10 crore has been allocated for implementing work from the home model in the tourism sector.

Nursing colleges will come up in Idukki and Wayanad medical colleges, as well as the taluk hospitals and general hospitals in the State, the minister said.

In the first stage, colleges will begin with attached to 25 hospitals and that 20 crore has been set for this purpose. The minister said 1000 crore rupees has been allocated for health tourism and to make Kerala the health care capital.

The cess at the rate of 20 for one litre of Indian-made Foreign Liquor (IMFL) priced between 500 to 999. Rupees 40 on IMFL priced above 1000

Balagopal said that the government has identified 64,006 extremely poor families in the state and the government has prioritised poverty eradication in the budget.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout