The Kerala Budget presented by Finance Minister K N Balagopal on Friday has two notable initiatives: the K-Homes project and a senior citizens’ entrepreneurship promotion scheme. Both target critical issues in Kerala, where the challenges of an ageing population and displaced youth are becoming increasingly evident.
Recent reports reveal that over one lakh homes in Kerala remain locked and unoccupied. In this context, ideas like K-Homes gain considerable relevance.
Balagopal's proposal involves piloting the use of locked houses near major tourist destinations, with Kumarakom, Munnar, and the Kochi-Muziris region selected for initial implementation. An allocation of ₹5 crore has been made for the project’s rollout.
The initiative, inspired by global practices, aims to offer affordable accommodation to tourists by utilising unused houses. It provides dual benefits:
Income for homeowners: Property owners gain a source of revenue with minimal risk while keeping their properties maintained.
Improved security: Regular occupancy prevents vacant homes from becoming hotspots for anti-social activities.
From a tourism standpoint, the project could also stabilise room rental rates in high-demand locations, curbing exploitative pricing trends.
Kerala's elderly population--with over 40 lakh senior citizens, including around six lakh retired government pensioners--is growing rapidly. It's against this backdrop that the finance minister announced a scheme to encourage seniors to venture into entrepreneurship.
Such initiatives have the potential to significantly benefit senior citizens, promoting mental and physical well-being while fostering economic activity. By bringing their experience and expertise into small-scale enterprises, they can contribute to job creation and market investments.
However, the ultimate success of these schemes hinges on effective implementation and sustained support for participants.