Tax income rises, saving the state: Minister of Finance

Kerala’s own tax income increased by 60% in only three years, according to Finance Minister K N Balagopal.

From Rs 47,000 crore in 2020–21 to Rs 77,000 crore in 2023–24, the state’s own tax income increased.

In a Facebook post, the minister claimed that his three years in office had been filled with unprecedented problems and that “if not for the revenue increase, the union government’s anti-Kerala stand would have destroyed the state’s finances.”

“The state government could fund all sectors without cost cutting, even though the union government caused trouble for the state through various bans.” We are working hard to find a solution to the situation brought on by the union government’s reduction in the state’s eligible tax share and the borrowing cap,” he said.

According to the minister, the state was successful in drawing attention to the problem around the nation thanks to the Supreme Court lawsuit the state government filed against the union government and the protest the chief minister and other ministers organized in Delhi. Well-known journalists and national leaders of different political parties confirmed that the problems the state was bringing up were real. Following Kerala’s lead, a few other states also filed a case against the union government at the Supreme Court. According to him, this has grown into a significant federalism-related problem.