Kerala Budget 2017-18, presented by Dr. T M Thomas Isaac, State Finance Minister, has earmarked an outlay of Rs. 549 crore for the IT sector giving major thrust to the construction of IT Parks. This includes Rs. 84 crore for Technopark, Rs. 67 crore for Infopark and Rs. 25 crore for Cyberpark; Rs. 55 crore for IT Parks in Kozhikode, Kannur, Kasargod and Koratty and also for Techno Lodges.
By the year 2020, one lakh IT jobs will be created at Infopark while Technopark will generate 75,000 jobs. An outlay of Rs. 70 crore has been made for Youth Entrepreneurship Development Programme, which is a bouquet of several new and innovative schemes such as startup box campaign, startup boot camps, partner network, startup i3, entrepreneurship visit programme, Fab-Lab programme, innovation fund, seed fund etc.
The budget proposes setting up of 12 hardware parks as part of making Kerala an IT hardware manufacturing hub.