Kerala Budget 2024: Govt. allocates over 1000 crores for education sector, key highlights here

Feb 5, 2024

The Finance Minister of Kerala, K. N. Balagopal, presented the budget for the financial year 2024-25 on February 5, 2024. A significant amount of Rs. 1032.62 crores has been allocated for the public education sector, and 33 crores have been earmarked for the modernization of schools, providing a major boost to the education sector.
As per the announcement, one school will be raised as a model school in every district of Kerala.He also added that Rs. 155.34 crore has been assigned for the distribution of free uniforms.
The finance minister announced the establishment of five new nursing colleges in the state. Rs. 13 crore has also been allocated for waste management projects in medical colleges.
“The education sector will make strong capital and attract students for professional courses from outside the state to make a medical hub; facilities will be maintained at all medical colleges for foreign nationals,” added Kerala Minister KN Balagopal.
The government of Kerala is making efforts to attract more international students to the state. Consequently, universities in the state will be upgraded with advanced technology. The minister further stated that the government would prioritize the establishment of foreign university campuses in accordance with the guidelines of the University Grants Commission (UGC).
In another major announcement, Balagopal stated that his government aims to create 10,000 jobs in the sports sector. An investment of Rs. 5000 crores has been mobilised through the International Sports Summit.
The Finance Minister has announced a new pension scheme for state employees.
During his budget presentation, the Kerala Finance Minister criticized the Union Interim Budget 2024, calling it a big disappointment.
Key Highlights from Kerala Budget 2024-25

  • Public education is a priority with Rs 1,032 crore earmarked, including the initiative to establish a ‘model school’ in each district.
  • The government has set aside Rs 170 crore to support and promote art and culture.
  • The Kudumbashree mission will receive Rs 265 crore, with the launch of Kudumbashree Livelihood Initiative for Transformation (K-LIFT) as part of the mission’s 25th-anniversary celebrations.
  • Kalamandalam deemed university has been granted Rs 19.5 crore.
  • For the modernisation of the Excise department, Rs 9.27 crore has been allotted.
  • Dialysis units in hospitals will receive a boost with Rs 9.88 crore, and Rs 9.5 crore has been set aside for Vimukthi, the campaign against drug and substance addiction.
  • The farm sector will benefit from an outlay of Rs 1689.30 crore, and the Kerala State Road Transport Corporation (KSRTC) will receive Rs 128 crore to enhance its services.
  • The Haritha Kerala mission will further receive Rs 7.5 crore for the renovation of ponds, and the Kochi Metro has been allocated Rs 239 crore in the Kerala Budget 2024-25.

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