The United Democratic Front (UDF) government intends to encourage private investment as it is the only way to boost the Kerala economy, Chief Minister V.D. Satheesan said after presenting the Revised Budget for the 2026-27 fiscal here.

Asserting that his first Budget was designed to create a ‘Puthuyuga Keralam’ (New Age Kerala), Mr. Satheesan swept aside the Opposition LDF allegations that the UDF was promoting privatisation. Mr. Satheesan said his Revised Budget does not make a single mention of privatisation anywhere. “Which area did we privatise? The KSRTC? the KWA? No area has been privatised nor did we make any announcement in this regard,” he said.

Restructuring tax system

At the same time, the State government intended to introduce new economic models, he said. “There should be the best financial management. There should be measures to prevent leakage from treasury. There should be a restructuring of the entire tax administration,” the Chief Minister said.

On the absence of any mention in the Revised Budget of the Sthree Suraksha pension scheme, Work to Connect programme and the scheme for making undergraduate education in arts and science colleges free, Mr. Satheesan said these schemes were hastily announced by the Left Democratic Front (LDF) just before the elections.

“They did not announce any of these schemes during their 10 years of rule. Then they announce them on the eve of the elections. When did they implement the Sthree Suraksha pension scheme? In February when they lost the local body elections,” he said.

The State government will declare a comprehensive project for senior citizens soon, he said. It would have the involvement of not just the government, but other agencies, NGOs and local governments, he said.