Thiruvananthapuram (Keralam) [India], June 24 (ANI): Keralam Chief Minister VD Satheesan on Wednesday described the state budget as a 'futuristic budget', saying it has been designed after assessing state's strengths, limitations, opportunities and challenges while also incorporating promises made to the people.

Speaking on the budget in the assembly, CM Satheesan said it differs from conventional budgets presented by previous UDF and LDF governments, noting that changing times and global developments required a new approach to policymaking.

'This is not a budget presented in the conventional manner, nor is it similar to the budgets brought forward by previous UDF or LDF governments. Times have changed, the world has changed, and we have examined Keralam's strengths, limitations, opportunities and challenges before framing this budget. It is a futuristic budget. At the same time, it incorporates the promises we made to the people,' Satheesan said while speaking in the assembly.

Highlighting Keralam's demographic transition, the Chief Minister said the state's demographic dividend is shrinking as the proportion of young people declines and the elderly population rises significantly. He stressed that these changes cannot be ignored and must be addressed through policy interventions.

'Keralam is undergoing major demographic changes, and we cannot ignore them. The strength of the Keralam model was built around a youthful population, but that demographic dividend is shrinking. The proportion of young people is declining, while the elderly population is increasing significantly. These changes have to be addressed,' said Satheesan.

Satheesan said a large number of Keralam's youth are moving outside the state and the country, making it necessary to strengthen the education sector, build quality higher education institutions, develop strong universities and create better employment opportunities.

The Chief Minister said the budget focuses on preparing Keralam for future challenges while responding to evolving social and economic realities in the state.

'A large section of our youth is moving outside the state and the country, while other sections of the population continue to grow. Therefore, we need to focus on education, build quality higher education institutions, create strong universities and generate better jobs. The nature of jobs is changing rapidly. That is why experts have been entrusted with studying each sector and closely monitoring these changes,' he said.

The Chief Minister also asserted that the government would not seek to increase revenue by imposing additional taxes on people.

'We are not filling the treasury by imposing additional taxes. This government is pursuing a new economic model. We will not burden people with higher taxes to increase revenue. Instead, we will strengthen the treasury through sound financial management, strict measures to plug leakages, and efficient tax administration,' Satheesan said.

Expressing confidence in the government's approach, he said the state would focus on stimulating economic activity to improve its financial position. The Chief Minister said the budget aims to prepare Keralam for future challenges while responding to the state's evolving social and economic realities.

'We have the confidence that this can be achieved. By stimulating the economy, generating economic activity, and ensuring greater circulation of money, we will strengthen the state's finances. That is the approach of this government in every sector,' he said. (ANI)