Representational imageState budgets always follow the Union budget but the work on the financial statement starts at least three months early. Each department is asked to submit their recommendations to be included in the budget, including expected expenses and plans for any new projects. This time, the government took the process online.
The second phase of budget preparation is an interaction with the top bureaucrats. Finance minister T.M. Thomas Isaac kicked off the process in the seaside Inspection Bungalow at Vizhinjam. He would analyze data and go through the suggestions and ask for any more details. The social media-savvy minister also considered recommendations obtained through online platforms such as WhatsApp and Facebook.
Another round of discussions followed, this time with businessmen, consumer associations, farmers’ group and representatives of all sectors of the economy. The interaction went on for two days. Groups were also allowed to send their suggestions in writing.
The team prepared the details of expected revenue and expenditure. A final round of talks was held last week, attended by a team cherry-picked from the offices of the finance minister and the finance secretary. Each project was finalized and funds were allotted to it. The budget document received the stamp of approval from the cabinet last week.
The minister started preparing the budget speech on February 27. Two staff members helped him obtain data as and when needed. The minister and his small team were in constant touch with the finance department in preparation for the budget. The work schedule went late into night every day.
The speech will be finalized only on Thursday, on the eve of the budget presentation in the Legislation Assembly. The finance minister will read out the statement to chief minister Pinarayi Vijayan before sending the confidential document to the government press at 2 am.
The printed document will reach the assembly in a sealed cover on Friday morning. Isaac will start his eighth budget speech at 9 am. Once he finishes the long statement, the text of the speech and various documents will be distributed among the legislators with the Speaker’s consent.
The employees of the press involved in the printing of the budget documents will be allowed to leave their workplace only after the minister winds up his speech to ensure its secrecy.
