Comprehensive health insurance cover for all, setting up social security mission, old age destitute pensions and Rs 60 crore to empower women-run Kudumbasree SHGs (self-help groups) are some of the welfare sops that Kerala finance minister TM Thomas Isaac has packed in his Rs 627-crore deficit Budget (2008-2009) presented to the state Assembly. His dole gestures include a whopping Rs 700 crore tax arrear waiver and Rs 188-crore penal interest waiver for the state?s transport utility KSRTC.

?Besides tax arrears waiver, KSRTC and Kerala Water Authority will get full budgetary support to ensure them balance sheets clean enough to qualify for loans to make a fresh start. Since the state governments are tightbelted from market loans beyond a limit, all that the state can do is to back the PSUs in their independent revitalisation packages,? Thomas Isaac said. The number of profitmakers in the state?s PSU stables is now up from 12 to 24.

A Rs 86-crore package is readying for fisheries sector. On the model of Farm Debt Relief Commission, Fishermens? Debt Relief Commission will be set up this year, Isaac said in his Budget speech. As far as the farm sector is concerned, the state government intends to piggyback the central government package.

For water transport, Rs 50 crore has been set aside besides the Rs 80-crore share for the development of Kerala leg of National Waterways . A fund of Rs 21 crore has been allocated to upgrade two international airports (Thiruvananthapuram and Kozhikode) and construct another one . Also, the state has made an initial allotment of Rs 67.5 crore for Vizhinjam International Deepsea Port.

Further, a fund of Rs 14 crore has been set aside for setting up a non-conventional energy park by state agency Kinfra. A sum of Rs 60 crore, and Rs 8 crore, has been allocated for Athirampilli hydel project and Edamalayar project respectively.

Despite 12% revenue-side buoyancy and ARM (additional resource mobilisation) to the tune of Rs 188 crore, the state government has posted a revenue deficit of Rs 3,367 crore in the fiscal , only a tad lower than last year?s Rs 4,644 crore. The fiscal deficit for 2008-2009 is Rs 5,625 crore. In the previous fiscal this was Rs 6,900 crore. Taking cue from Grand Kerala Shopping Festival, the Budget also allows Rs 20 crore grant for setting up a Trade Fair Authority.