Critical Minerals Corridor project, mentioned in the Revised Budget for 2026-27, won't be privatised,said Chief Minister V.D. Satheesan . He told the Assembly on Wednesday it's being done through a consortium of public bodies like Coal India Ltd,Kerala Minerals and Metals Ltd,Travancore Titanium Products,and the Non-Ferrous Materials Technology Development Centre.
Satheesan shot down Opposition Left Democratic Front (LDF) claims that project edges toward privatisation. He called those claims “fabricated tale,” stating,“There is no mining,only value-addition.” Part of a bigger plan in Revised Budget — ₹100 crore for Rare Earth and Critical Minerals Corridor.
On public sector concerns,Satheesan stressed his government isn't going to privatise them. “Is there a single sentence in the Budget that says any public sector institution will be privatised?” he asked, showing his commitment to turning entities like Kerala State Road Transport Corporation,Kerala State Electricity Board,and Kerala State Civil Supplies Corporation into profit-makers.
While pushing for new development that brings in private partners,Satheesan emphasized investment in state. He laid out plans for managing finances,aiming to boost treasury without new taxes on residents. Effective management and plugging tax leaks to spur growth.
Criticizing previous LDF government,Satheesan accused them of leaving a ₹17,175 crore debt from Kerala Social Security Pension Ltd for his government. He pointed out UDF must now handle repaying debts from 16 months of social security pensions…
