Kerala finance minister Thomas Issac presents budget for 2019-2020 financial year

KOCHI:

Kerala Finance minister Thomas Issac

on Thursday announced various development projects for

Kochi

while presenting budget for 2019-2020 financial year .


Townships in Amaravati model would come up in Kochi, Issac announced in the budget speech.

An industrial corridor between Kochi and Coimbatore is also being planned, the budget announcement promised.

Kochi, where the Infopark and Smart city is located, would also benefit from the announcements made to develop the IT sector.

As much as Rs 10 crore has been allotted for Startup Innovation zone. The budget also announced that 1.16 lakh square feet of area would be developed for IT sector. Issac also claimed in the budget that the job opportunities in the IT sector would be doubled in the tenure of the LDF government alone.

The

finance

minister said during the budget speech that incubation and acceleration support helped in the growth of the start-up ecosystem in Kerala. “Kerala now has the largest startup ecosystem in the state with the setting up of integrated startup complex in Kochi,” he said during the speech.

Finance Minister Thomas Isaac had reached the state legislative assembly to present the budget at around 8.30 am. This is Isaac's 10th budget and Pinarayi Vijayan government's third budget.

There is a decline in the state's revenue and the budget will address this issue, Isaac had said before leaving to assembly. “Budget foresees and plans for sustainable growth of Kerala,” he said.