Kerala govt allocates Rs 100 crore to Supplyco to contain price hike

Thiruvananthapuram | The Kerala government on Sunday allocated Rs 100 crore to the State Civil Supplies Corporation (Supplyco) as part of its market intervention efforts to prevent a steep rise in prices of essential commodities.

Finance Minister K N Balagopal said the funds will support various initiatives aimed at controlling the soaring prices of essential items in the state.

In a statement, the minister noted that Rs 250 crore has already been allocated to the Supplyco in the state budget this year for market intervention.

"By allocating Rs 100 crore now, it will be possible to ensure the procurement of essential commodities, including for the upcoming Onam season, in advance," he said.

Citing figures, the minister said Rs 250 crore was earmarked for Supplyco in the budget last year for market intervention.

However, a total of Rs 489 crore was allocated in this regard during that time, he said adding that an additional Rs 284 crore had been allocated in this regard during last year.

The state government has so far provided Rs 7,630 crore as assistance to the Supplyco for direct market intervention during the last 15 years from 2011-12 to 2024-25.

Of this, only Rs 410 crore was provided during the five years' tenure of the last UDF government, Balagopal said adding that the remaining Rs 7220 crore was allocated by the LDF governments