Kerala - Kochi   

Infrastructure a key focus of budget, says Minister

KOCHI: Finance Minister T.M. Thomas Isaac has said that a key focus of the State Budget is infrastructure development.

Addressing a meeting convened by the Kerala Chamber of Commerce and Industry here on Sunday, he said a quantum jump had been made in the capital expenditure account to take up major infrastructure projects.

Several of these projects would be in the public-private partnership mode, though the business model would be slightly different. The Vizhinjam project, for example, would be taken up in two phases. The first phase would be taken up by the government, while the second would have private participation.

He said the Kannur airport would be developed on the business model followed in the case of the Nedumbassery airport, while a pipeline project would be executed jointly by the State government and GAIL (India) Ltd., formerly Gas Authority of India Ltd.

Referring to the Kochi metro rail project, the Minister said it should be seen in a larger perspective. Infrastructure for the project would benefit the city and suburbs. The Delhi Metro Rail Corporation had been entrusted with the task of setting up associated infrastructure. The Minister hoped that the project would be executed in a time-bound manner.

The allocation for the Vyttila mobility hub and modern boats for navigation would further improve the transport facilities in and around Kochi. Setting up of a retail management institute would enable the trade and commerce segments to adopt a systematic approach in modern retail trade. Tourism and real estate sectors had been given due consideration in the budget in view of the setbacks suffered by them because of the economic slowdown last year.

De-silting of reservoirs would be beneficial in two ways as it would generate revenue and sand could be provided to the consumers. The price of sand would come down as soon as the sand reached the market.

Earlier, K.M. Abdulla, chairman of the chamber, said several proposals that had come up at the investors' meet organised by the organisation a few months ago were facing problems because of the land ceiling regulations.

Several traders' representatives presented memoranda to the minister. A discussion was also held on the budget. Dominic presentation, MLA, Venugopal C. Govind, chartered accountant, and C.P. John, former member of the Planning Board, were among the speakers.

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