Budget gives more thrust to agriculture: FM

Thiruvananthapuram, Jun 23: Kerala Finance Minister T M Thomas Isaac today said the revised budget for 2006-2007 presented to the Assembly had given more thrust for the revival of the agriculture and traditional industries sector.

Addressing a media conference after presenting his maiden budget, he said Rs 174 crore had been earmarked for the agriculture sector and Rs 57 crore for the traditional industries.

Stating that the budget was a reflection of the development policy of the Left Democratic Front(LDF) Government, he said more importance had also been given to tourism and IT sectors for which Rs 20 crore had been allotted. A sum of Rs 30 crore had been earmarked for general education and health sectors.

Claiming that the budget was a ''political instrument'' of the LDF government, he said the bugdet had various proposals to improve the living standard of the common man.

Admitting that the revenue deficit would shot up to 5.9 per cent from 4.1 per cent as the government had to depend more on loans, the Finance Minister said the budget proposals aimed at reducing the non-plan expenditure below 17 per cent with strict fiscal management. Along with it the Revenue income and domestic production ratio would be raised to 16 per cent from 13.2 per cent, he added.

Pointing out that the state was facing a serious financial crisis, he alleged that the previous Congress-led United Democratic Front government was responsible for the pathetic condition.

UNI