Thiruvananthapuram, June 19 (IANS) Kerala Chief Minister V.D. Satheesan on Friday defended the government’s focus on attracting private investment through the budget, saying it was part of a clear policy to create jobs, accelerate economic growth and generate resources to support welfare initiatives.

Responding to criticism from Leader of Opposition Pinarayi Vijayan that the budget was aimed at bringing private investment into the state, Satheesan said the government had never hidden its approach and had presented the same vision before the electorate.

“Private investment in Kerala is necessary. Through it, we can create employment opportunities, strengthen the economy and use the additional revenue generated to support the weaker sections of society,” he told reporters, after presenting his first budget.

“Today, we are in a situation where we do not have even five paisa in hand. Yet the Opposition wants us to continue with the old approach. That is not why we came to power. We had clearly told the people before the elections that our aim was to take Kerala 25 years ahead, not 25 years backwards,” he said.

Satheesan pointed out that Kerala, facing temporary liabilities of Rs 87,000 crore and a total debt burden of around Rs 5 lakh crore, could not depend entirely on the public sector for new development projects.

“At a time when states such as Tamil Nadu, Karnataka and Maharashtra are competing to attract investors, Kerala cannot afford to remain outside the race,” he said.

He added that the state needed private participation to build modern infrastructure and logistics networks.

“Kerala does not have the financial capacity to transport goods from Vizhinjam to Kasaragod through its own resources. Therefore, we will bring in private investment, create competition and develop barge and vessel-based logistics,” he said.

The Chief Minister also rejected allegations that the budget was about privatisation and challenged the Opposition to point out any mention of the term in the document.

“Neither the KSRTC nor the Water Authority has been privatised. The issue is that public sector institutions now mostly offer only contract appointments. As a result, engineering graduates educated here are unable to find suitable opportunities and are forced to leave the state,” he said.

Satheesan also announced a mechanism for performance audits of budget announcements to ensure the timely execution of projects.

Using technology, project progress will be reviewed every three months, he said, adding that a project implementation protocol would bring greater accountability among officials handling development works.

–IANS

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