Kerala Budget: Importance Given To The IT Sector; Check Out The Quick Summary

In the budget of Kerala that was presented by government minister KN Balagopal, importance has been given to the IT sector of the state, with the main target being given to the futuristic 5G networks.

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Expeditious steps are going to be initiated by the Kerala government to bring the 5G system to the state and to maneuver forward rapidly within the service sector.
Infrastructure development of the IT sector was another important announcement.

कानपुर में सॉफ्टवेयर टेक्नोलॉजी पार्क के लिए टेंडर की तैयारी, सीएम योगी कर सकते हैं शिलान्यास - Narad Muni
Other important announcements
IT Corridors
Along with the prevailing NH 66, four IT corridors are made parallel to that as a part of decentralizing the state’s IT sector. there’ll be four lanes within the corridors which is able to be Koratty-Ernakulam, Thiruvananthapuram Technopark phase-III-Kollam, Kozhikode-Kannur, and Ernakulam-Cherthala. For the extension of the IT corridor, an IT facility are going to be founded in Kollam which is able to cover a locality of 5,00,000 square feet.

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Construction of IT Parks
A new IT park are going to be constructed at Kannur. Satellite IT parks are going to be built on 15-25 acres of land obtained at premium prices through land acquisition on the proposed corridor with convenient access from Kozhikode, Ernakulam, and Technopark phase III through NH 66. additionally, the acquired land would be accustomed build 20 small parks ranging in size from 50,000 to 2 lakh square feet.

Rs 1000 crore has been sanctioned from the land acquisition pool of the Kerala Infrastructure Investment Fund Board (KIIFB) for acquiring land to line up IT parks in Kannur, Kollam, and other areas.

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Technopark, Technocity, Infopark, and plenty of more IT centres are expanded as a part of the event of essential infrastructural facilities for the IT sector. Additionally, Rs 100 crore through KIIFB would be provided for the project so the required infrastructure facilities may be developed. because the concept of labor near house is gaining acceptance, Rs 50 crore has been earmarked for this purpose.

The fund allocation of Kochi Infopark is Rs 35 crore while that of Technopark in Thiruvananthapuram is Rs 26 crore.