Latest news with #K.N.Harilal
The Hindu
5 days ago
- Business
- The Hindu
Focus on infrastructure development to overcome post-pandemic growth challenges: K.N. Harilal
Kerala should focus more on infrastructure development in order to overcome the post-COVID 19 development challenges, K.N. Harilal, chairman, 7th State Finance Commission, has said. He was speaking on 'Investing for the future: Kerala, which way now,' on the second and final day of the seminar, 'Post-COVID Development Challenges and Response: Kerala through the lens of State budgets,' organised by the Gulati Institute of Finance and Taxation (GIFT ). Dr. Harilal said logistics is a major area requiring Kerala's attention. China's advancement in global trade was mainly due to the development of world-class logistics and infrastructure such as ports and highways. Unfortunately, India is lagging behind in logistics development which is also the case with Kerala, according to him. With automation, cost efficiency, and natural draft Vizhinjam International container port is positioned to capture up to 15% of India's total container traffic and rival ports such as Colombo, Singapore, and Jebel Ali, Sreekumar K. Nair, CEO, Vizhinjam International Seaport Ltd, said. Rail connectivity for the port would be ready within three years, said. K. P. Kannan, former director, Centre for Development Studies ( CDS), said unemployment among educated youth is a serious developmental crisis Kerala faces today. The percentage of unemployment among women is higher compared to men. Kerala needs to address this pressing issue very seriously, he said. Former GIFT director D. Narayanan said that the decline in the capital expenditure of Kerala is a matter of serious concern. The State's capital expenditure during 2021-22 was ₹17,000 crore which dropped to ₹15,500 crore during 2024-25, he said. Senior economists and planning experts addressed the seminar over the two days.
The Hindu
08-06-2025
- Business
- The Hindu
Kerala State Finance Commission seeks suggestions to improve governance, finances of local bodies
The 7th State Finance Commission is seeking the public's views on a range of topics related to the governance and finances of local bodies in Kerala, including the potential of capital market borrowings in funding their development projects, expanding their revenue base and efficient disaster mitigation at the local level. The 7th commission, constituted last year with former State Planning Board member K.N. Harilal as its chairman, is tasked with studying the fiscal position of rural and urban local bodies in Kerala and recommending measures to strengthen their finances. Questionnaire In a detailed questionnaire, the commission has sought suggestions from the public on possible new sources of revenue for panchayats, municipalities and Corporations. The public's opinion has also been sought on raising capital/loans from the market for funding local-level development projects. Enhancing the resource raising capacity of local governments through tax and non-tax revenues has an important place in the terms of reference (ToR) of the 7th commission. The panel, among other things, is also required to propose 'frameworks for local governments to raise resources from financial institutions and markets and by employing other means such as land pooling and public private participation.' Budget proposal The 2025-26 State Budget too contained a proposal to enable local bodies to raise ₹1,000 crore through 'municipal bonds, green bonds and pooled municipal bonds.' This money would be used to construct IT parks, commercial centres, roads, and implement waste management and water supply schemes. In May this year, the Greater Chennai Corporation had made news when it listed municipal bonds in the National Stock Exchange to raise funds for projects. Among other things, the commission has also sought 'constructive suggestions' from the public regarding the planning and implementation of disaster-mitigation measures. The commission's ToR requires it to recommend steps that 'enable local governments to contribute effectively to disaster management.' Improving administration The commission is taking suggestions regarding measures for improving administration in local bodies, cutting down their expenses, efficient deployment of resources and improving public services. Feedback is also being taken on the current deployment of the general purpose fund and the maintenance funds, the development fund, the Scheduled Castes and Scheduled Tribes subplans, projects that can be undertaken in collaboration with other local bodies and government departments, and the care of the elderly and bedridden patients. The State Finance Commissions are constituted by the State government under clause 1 of Article 243 (I) and (Y) of the Indian Constitution alongside relevant sections of the Kerala Panchayat Raj Act and the Kerala Municipalities Act to assess the financial position of rural and urban local bodies and make recommendations to the Governor. The questionnaire can be accessed on the commission's website and the Finance department's website
