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Knowledge society is the goal: FM | Kochi News

The last budget of the LDF government is based on the core idea of cashing in on the opportunities that are emerging in the backdrop of the Covid-19 crisis, said finance minister TM Thomas Isaac.
In his post-budget press conference on Friday, the finance minister said that Kerala will fully utilize the decentralized work-from-home culture that came into effect with the outbreak of Covid-19. He claimed that in the next decade, the state can be transformed as a knowledge society and there has been no other occasion when Kerala-brand gained so much popularity.
He said that at least three lakh professionals have returned to the state, from abroad, in the wake of Covid-19, and there are at least five lakh women professionals who have the required education but are unable to go to work due to personal commitments.
All these people require only a minimum guidance to utilize their skills, if the opportunity is created for them to work-from-home. He said that instead of trying to bring in large-size industries to the state physically, the digital platform ‘created in knowledge’ is the best model for the state. He also said that the government would launch centres of excellence.
Regarding the increased borrowings by the government, the finance minister said that it is not how much we borrow, but what we use it for that holds the key. He said that if borrowings are spent on day-to-day expenses, it would be a wrong method. He added that borrowings should be spent on infrastructure like how Kerala infrastructure investment fund board is doing.
The budget focuses on an aggressive promotion of knowledge industries for the uneducated poor and its focus is to ensure that poverty is eradicated in society.
Isaac claimed the budget also focuses on fiscal consolidation of the state. He said that the government has been reducing fiscal deficit and revenue deficit since 2016. He said that the revenue expenditure is being brought down by the government using several methods.
The minister said that the UDF manifesto’s claims that it will ensure that Rs 6,000 reaches the hands of ordinary citizen through Nyay scheme. He added that he cannot comment on the same as it has not said how many persons would benefit. Only after making the number of beneficiaries clear, the financial commitment can be calculated and it can be found whether the state can bear it, said Isaac.

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