The CPI(M) has accused the Kerala government of pursuing a policy of wholesale privatisation through its latest budget, alleging that it aims to sell state assets to corporate entities. The party leader claimed that the government's emphasis on private capital reflected a larger agenda to 'sell Kerala' and hand over the state's mineral wealth and land resources to corporate interests.
Allegations of Privatisation Drive
The CPI(M) leader, speaking on the budget presented on 20 June 2026, stated that the government is systematically dismantling public sector enterprises and transferring their ownership to private players. This, he argued, would lead to a loss of public control over key resources and undermine the state's economic independence.
Focus on Private Capital
The budget's heavy reliance on private investment was criticised as a shift away from welfare-oriented policies. The CPI(M) contended that the government is prioritising corporate profits over the needs of the common people, particularly in sectors like mining and land management.
- The budget proposes selling stakes in state-owned enterprises.
- Mineral wealth is being offered to private companies under long-term leases.
- Land resources are being transferred to corporate entities for development projects.
Government's Response
The state government has defended its budget, arguing that private capital is essential for economic growth and job creation. Officials have stated that the privatisation measures are aimed at improving efficiency and attracting investment, while ensuring that adequate safeguards are in place to protect public interests.
The CPI(M) has vowed to oppose these measures in the assembly and on the streets, calling for a mass movement to protect Kerala's resources from corporate takeover.
