Thiruvananthapuram, June 20: Kerala’s Chief Minister V.D. Satheesan defended the government’s focus on attracting private investment through the state budget. He stated that this strategy aims to create jobs, accelerate economic growth, and gather resources for welfare programs.
Responding to criticism from opposition leader Pinarayi Vijayan, Satheesan emphasized that the budget’s goal was to bring private investment into the state. He asserted that the government has always been transparent about its vision, which was presented to the public before the elections.
After presenting his first budget, he told reporters, “Private investment is essential in Kerala. Through this, we can generate employment opportunities, strengthen the economy, and utilize the additional income to support the underprivileged.”
He added, “Currently, we are in a situation where we have no funds. Yet, the opposition wants us to continue with outdated methods. We did not come to power to regress; we clearly stated before the elections that our aim is to advance Kerala by 25 years, not to take it back.”
Satheesan pointed out that Kerala, which has temporary liabilities of ₹87,000 crores and a total debt of ₹5 lakh crores, cannot solely rely on the public sector for new development projects.
He remarked, “At a time when states like Tamil Nadu, Karnataka, and Maharashtra are competing to attract investors, Kerala cannot afford to be left behind. The state needs private participation to build modern infrastructure and logistics networks.”
He further explained, “Kerala lacks the financial capacity to transport goods from Vizhinjam to Kasaragod using its resources. Therefore, we will invite private investment, foster competition, and develop barge and ship-based logistics.”
The Chief Minister also dismissed allegations that the budget was about privatization and challenged the opposition to find any mention of the term in the document.
He clarified, “Neither KSRTC nor the Water Authority has been privatized. The issue is that government institutions primarily hire on a contract basis. As a result, engineering graduates from here often do not find suitable opportunities and are forced to leave the state.”
Satheesan announced a performance audit system for budget announcements to ensure timely project completion. He stated that technology would be used to review project progress every three months, enhancing accountability among officials managing development works.
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