Thiruvananthapuram, Feb 7 The final full budget of the second Pinarayi Vijayan government, presented in the Kerala Legislative Assembly on Friday by State Finance Minister K.N. Balagopal, took sharp aim at newly elected US President Donald Trump and the Union Government.
Taking aim at Trump, Balagopal remarked, “The world is navigating a complex and uncertain phase. In many regions, democracy has crumbled, and governance has weakened. The rhetoric of autocracy and dictatorship has crossed all boundaries of political and social dignity.”
Criticizing Trump’s policies and statements, he added, “A man who claims the Panama Canal as his own, talks of annexing Greenland, and suggests evacuating Gaza to turn it into a tourist destination now leads the world’s most powerful nation. Fear, hatred, and war mongering are on the rise. Many worry that this signals a return to the dark times of world wars and colonial oppression. These global developments will inevitably impact our nation as well.”
Balagopal emphasized the need for Kerala to safeguard its democratic and secular values. “This is a time for unity in upholding progressive ideals. A budget is not just an economic document, it reflects the political, cultural, and social realities of the people it serves as well. I am confident that this budget will serve as a blueprint for Kerala’s future development,” he said.
Turning his focus to the Central government, Balagopal attributed the state’s financial constraints to long-standing neglect by the Centre. He pointed out that Kerala’s share of central taxes has been steadily declining over the years.
“This issue did not emerge overnight. The reduction in states’ share of central taxes, including Kerala’s, began nearly 25 years ago. During the tenure of the Tenth Finance Commission, Kerala’s share was 3.88 per cent. This has progressively declined, reaching a historic low of 1.92 per cent under the Fifteenth Finance Commission,” he said.
He also highlighted a sharp decline in grants allocated to local self-governments. “Despite Kerala leading in decentralization efforts, financial support from the Centre has shrunk. Under the Twelfth Finance Commission, local bodies received 4.54 per cent of the divisible pool. This has now dropped to 2.68 per cent under the Fifteenth Finance Commission,” he noted.
Balagopal’s speech underlined the state’s mounting fiscal challenges and framed the budget as both a policy response and a political statement against the Centre’s economic policies.
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