The proposal to undertake a study on Critical Evaluation of State Budgets: Kerala (1957 to 2012) submitted by Dr. Sabu Thomas was forwarded by the Hon'ble Vice-Chancellor to the Hon'ble Finance Minister and Hon'ble Education Minister , Government of Kerala. Following this a token provision was provided in the State Budget (2012-2013) to establish a Centre for Budget Studies (CBS) at the Cochin University of Science and Technology (CUSAT). The University Syndicate resolved to start the Centre in the University and chose to name it the K.M. Mani Centre for Budget Studies. The University nominated Dr. Sabu Thomas as the Co-ordinator and the Syndicate appointed Professor M.A. Oommen as the first Honorary Director, both have assumed charge on 4th June 2012 and 23rd August 2012 respectively. K.M.Mani Centre for Budget Studies (KMMCBS) was inaugurated by Hon'ble Vice President of India on 17th February 2013 at the Old Assembly Hall, Thiruvananthapuram. To regularize and legitimate the activities of the Centre and to build it as a Centre of Excellence for teaching and research on Budget Studies approved by the University Grants Commission (UGC), the Syndicate has constituted an Executive Council and an Advisory Council.