‘New Kerala’ bets on ports, logistics and investment in revised budget

Kerala chief minister V D Satheesan, who also holds the Finance portfolio, on Friday presented the revised Budget for 2026–27 in the Assembly, outlining a vision to build a “New Kerala” through inclusive growth and sustainable infrastructure development.

Highlighting severe fiscal stress, hidden liabilities, lower remittances and inflation as major challenges facing the state, Satheesan announced Mission Samudra, an initiative aimed at creating a port-led economy and positioning Kerala as a global maritime and economic hub.

The chief minister said the government remained committed to boosting economic growth through broad-based development strategies, attracting large-scale investments across sectors, mobilising financial resources for the public exchequer and ensuring equitable distribution of wealth.

“To achieve these objectives, I will now outline the government’s flagship initiatives,” he said.

Under Mission Samudra, the government plans to leverage Kerala’s 600-kilometre coastline, two international ports, one container transshipment terminal, 17 non-major ports and a range of other water-based resources to strengthen the state’s presence on the global maritime map within the next five years.

The initiative seeks to transform Kerala into a port-led economy by building an integrated maritime ecosystem linking roads, seaports, railways, inland waterways, industrial zones and greenfield cities.

Satheesan announced an allocation of Rs 400 crore for Mission Samudra.

The chief minister also reiterated the government’s commitment to accelerating economic activity through broad-based development measures and announced Rs 200 crore to support plans to develop Kerala into an aviation and logistics hub centred around its four airports.

In addition, the government will establish a Data-based Invest Kerala cell to attract investments by addressing key business bottlenecks, Satheesan said during his Budget speech.