Kochi, Oct 11 (UNI) As part of the Kerala Government’s ‘Vision 2031’ initiative to evaluate the state’s progress and set future development goals, the Finance Department will organise a seminar titled ‘Finance Department: Achievements and Future Perspectives’ on October 13.
The ‘Vision 2031’ is a state-wide series of seminars covering 33 sectors, aimed at transforming Kerala into a progressive and developed state by 2031, when the state celebrates 75 years of its formation. These seminars are designed to assess Kerala’s past growth, identify challenges, and develop a comprehensive roadmap for future development through expert discussions and knowledge sharing.
The finance seminar will focus on the achievements of the Finance Department and related agencies over the past nine years, while also examining key challenges and opportunities in the coming years.
The event will be inaugurated by Finance Minister K.N. Balagopal, who will deliver a presentation on ‘Kerala@2031: A New Vision.’ Additional Chief Secretary (Finance) K.R. Jyothilal will present a report on ‘Kerala’s Economic Achievements in the Past Decade.’ Finance Resource Secretary Ajit Patil will deliver the welcome address, and Expenditure Secretary Keshavendra Kumar will propose the vote of thanks.
Three parallel panel discussions will begin at 11:45 am.
The first session, chaired by Additional Chief Secretary K.R. Jyothilal, will discuss ‘Kerala’s Economic Growth Models and Emerging Opportunities.’ Participants include former ISRO Chairman Dr. S. Somanath, IBS Founder and Executive Chairman Dr. V.K. Mathews, Geojit Financial Services MD C.J. George, NFTDC Director Dr. K. Balasubramanian, KIIFB Additional CEO Mini Antony, and Sweet Lime Founder Sanjay Dash.
The second session, on ‘Export and Port-led Development,’ will be chaired by Cochin Port Authority Chairman B. Kashinathan. The panel includes former Port Authority Chairman N. Ramachandran, Kerala Exporters Forum President K.M. Hameed Ali, CII Chairperson V.K.C. Razak, FICCI Kerala Task Force on Exports Chair Alex K. Nainan, CDS Director Prof. C. Veeramani, KSIDC MD P. Vishnuraj, and Vismay MD Dr. Divya S. Iyer.
The third session, on ‘Fiscal Federalism and the GST System,’ will be chaired by State GST Commissioner Ajit Patil, with participation from Prof. Pinaki Chakraborty of the National Institute of Public Finance and Policy, Prof. R. Ramakumar of the State Planning Board, KURDFC MD S. Premkumar, GIFT Director Dr. K.J. Joseph, and Additional Director of GST R. Sreelakshmi.
The valedictory session at 3:30 pm will be inaugurated by Industries Minister P. Rajeeve, with Finance Minister K.N. Balagopal presiding. Former Cabinet Secretary K.M. Chandrasekhar will deliver the concluding address, and Finance Department Officer on Special Duty Sachin Yadav will propose the vote of thanks.
Over the past decade, Kerala’s economy has faced significant challenges, including the implementation of GST, demonetisation, natural disasters such as floods and landslides, the Nipah outbreak, and the COVID-19 pandemic. The state has also contended with financial constraints due to restrictive measures by the Centre, including cuts in tax devolution, borrowing limits, and reduced allocations for centrally sponsored schemes.
Despite these difficulties, Kerala has made notable fiscal progress. The state’s own tax revenue is nearing Rs 1 lakh crore, while the budget size has expanded to nearly Rs 2 lakh crore, and annual expenditure has grown to around Rs 1.65 lakh crore. A State Finance Report released by the Comptroller and Auditor General in September 2025 also commended Kerala for its strong performance in revenue growth, capital expenditure, and debt reduction compared to other states.
Major projects such as the Vizhinjam Port and the North-South National Highway are moving toward completion. Welfare programmes, including social security pensions for 6.2 million beneficiaries and the Karunya Health Insurance Scheme covering 4.2 million families, continue to progress strongly.
The seminar ultimately aims to review Kerala’s financial journey and explore strategies to build a knowledge-driven, production-oriented economy, aligning with the government’s vision to create a sustainable and progressive ‘New Kerala’ by 2031.
