Kerala Thrives Despite Central Neglect, Creates 'New Normal': FM Balagopal

• Kerala Finance Minister Balagopal stated the state not only survived but progressed despite central government's neglect and economic restrictions.
• He accused the Centre of attempting to 'suffocate' Kerala by cutting borrowing limits and rejecting due arrears, calling it a temporary election-related move.
• Balagopal highlighted that Kerala built a 'defensive fortress' by prioritizing government expenses and augmenting its own revenue, foreseeing central challenges.
• The state generated an additional Rs 1,27,747 crore in own tax revenue and Rs 24,898 crore in non-tax revenue over five years, totaling over Rs 1,52,645 crore.
• He emphasized that development and welfare expenditures were not cut; instead, they reached historical highs, leading to a 'new normal' across all sectors.

Why It Matters: Kerala's Finance Minister asserts the state's resilience and progress despite central neglect, achieving a 'new normal'.