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CPM outlines ambitious proposals to attract large-scale private investment in Kerala

The policy document outlines key proposals aimed at attracting large-scale private investment, addressing the state’s financial challenges, and creating sustainable revenue streams.

CPM outlines ambitious proposals to attract large-scale private investment in Kerala

CPM Representatives image (Photo:SNS)

The policy document, ‘Navakeralathe Nayikkan Puthuvazhikal’ (Novel ways to lead new Kerala), presented by Chief Minister Pinarayi Vijayan at the CPI-M state conference being held in Kollam, received almost full support from delegates attending the conference. However, some of the delegates raised doubts about the policy document, pointing out that the proposed cess and fees might cause concern among the people.

The policy document outlines key proposals aimed at attracting large-scale private investment, addressing the state’s financial challenges, and creating sustainable revenue streams.

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A major focus of the policy is to introduce private participation in sectors like higher education, industry, and tourism. The plan includes the establishment of private universities and research centres through public-private partnerships (PPP), as well as converting underperforming and loss-making public sector units into PPP models.

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The document proposes categorisation of people based on income to introduce fees and cesses aimed at increasing revenue. It suggests identifying sectors where fees have remained stagnant for years and raising them to mobilise resources. Additionally, the policy proposes levying cesses in various sectors to address the state’s ongoing financial crisis.

In the document, special attention has been given to industrial and tourism infrastructure, with a focus on Vizhinjam Port-based development, logistics parks, dedicated industrial zones, warehousing corporations, and overall capital region development. The document reaffirms efforts to push forward major infrastructure projects, including SilverLine and the Sabarimala airport.

In the welfare sector, the document proposes hiking welfare pensions, ensuring their timely distribution, and even extending pensions to housewives. The document also emphasises fostering new start-ups and generating one lakh employment opportunities, alongside setting up industrial clusters across the state.

The document also includes plans for resource mobilisation through sand mining in dams, a longstanding proposal that has gained renewed focus. The policy document also emphasised strengthening the investment cell to attract more investment in the tourism sector, particularly in large-scale hotel projects led by private groups.

The document also indicates a policy change—a capitalist shift—to bring private participation, including in the industrial and tourism sectors. It also proposes to end protectionism extended to loss-making Public Sector Understakings (PSUs) that are beyond revival and instead hand them over to private entities to operate on a PPP model.

The document also proposes to reconsider freebies given to the rich. “The government should consider the possibility of imposing a cess. It should also reconsider giving freebies to the richer sections of society. The possibility of implementing a fee structure on the basis of one’s income should be considered,” the document says.

During the public discussion, a delegate from Kozhikode reportedly expressed doubt over the document, wondering whether it was in line with the party ideology. He said that the media was spreading the word about neo-liberalism and caution was needed in this regard.

It seems the CPI-M, in its Kollam conference, is rolling out the red carpet to capitalists by lowering the red flag raised against private investments for years.

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