Thiruvananthapuram, May 25: As the LDF Government in Kerala celebrates its fourth anniversary of coming to power, Chief Minister, Shri Pinarayi Vijayan listed out the formation of the Kerala Bank and the revival of Public Sector Undertakings in the State as major achievements of the government.
Briefing the media, the Chief Minister said, “The formation of the Kerala Bank is a milestone in the history of the State and will become a path of our survival. There were many who said this bank will never take off but today, Kerala Bank is set to be the second-largest bank in Kerala. The bank can support the pravasies and others during this pandemic season. New and higher loans can be given for supporting the agriculture sector.”
Kerala is becoming a preferred investment destination and more PSUs are becoming profitable. The Public Sector Undertakings (PSUs) under the Department of Industries and Commerce had a loss of Rs.131 crores when this government came into power. In the first year, the losses were brought down to Rs.71 crores. These PSUs have started reporting a profit in the last three years, Rs.5 crores in 2017-18 and Rs.8 crores in 2018-19. During the last fiscal, the PSUs have reported a working profit of Rs.56 crores. “The State Government will take over the several Central PSUs in the State earmarked for sale by the Central Government. Several new projects have been announced to attract investments to the State. Kerala will see a new investment culture”, he added.
The CM also informed that Kerala has been ranked as a top performer in the 2019 State startup ranking by the Central Government. There are 2,200 startups in the State including 1,600 IT-related start-ups as against 300 in 2016. The incubation space has grown to 2 lakh sq.ft. As against the Rs.2.2 crore investments earlier, Rs.275 crores have been invested during this period. The startup ecosystem is one of the best in the country.
Kerala became the first state in the country to declare the Internet as a basic right. Free Wi-Fi will be provided at all public places and libraries. The Rs.1,548 crore K-Fone project to provide high-speed internet to poor people will be rolled out in December.
The much delayed GAIL pipeline project is nearing completion now. The 444 km Kochi-Mangalore line is almost complete and is expected to be commissioned in mid-June. The 95 km Kuttanad-Walayar line is expected to be commissioned by August 15.
226 kms of road works have been completed under KSTP. Work on ten roads is progressing. 98% of the work on the Alappuzha bypass is complete and once the approval from Railways is received, the pending work will also be finished.