THIRUVANANTHAPURAM: Kerala State Finance Minister Thomas Issac (pictured) in his budget presented on Friday decided to seek the support of the more than 2.5 million Non-Resident Keralites (NRK) for the construction of two highways at a cost of Rs 10,000 crore.
The project, which will be financed through a chitty scheme, includes a 1,267-km long hill highway expected to cost Rs 3,500 crore and a 630-km long coastal highway expected to cost Rs 6,500 crore.
“These two highways will be constructed with the support of NRKs. None of them have to contribute a single penny for this purpose, instead they have to join an NRI chitty of the state-run Kerala State Financial Enterprise (KSFE). Our target is to see that one lakh NRKs join the chitty in the first year,” said Issac.
“NRKs can make their monthly remittances through any of the payment gateways. The entire money collected would be invested in the NRI bonds of state-owned KIIFB (Kerala Infrastructure Investment Fund Board) in the name of KSFE. There will be a call option available for the KSFE for withdrawing it and this is a novel way to raise funds,” he said.
“There is not going to be any risk for the investor. Besides they become partners in the development of the state. As and when the member wishes to participate in the bid process it can be done online,” he added.
Free medicines: Thomas Issac announced free medicines for people suffering from lifestyle diseases like hypertension, diabetes and cholesterol.
Issac said the medicines would be supplied through the state-run hospitals at all levels.
“I am setting aside Rs 10 crore for revamping facilities at the Kerala State Drugs and Pharmaceuticals which will be producing these medicines,” said Issac, who hails from Alappuzha district, where the factory is based.
Studies have pointed out that in Kerala 22 per cent of the population above the age of 25 has been diagnosed with diabetes and is heading to become the diabetic capital of the country.
Not to resign over ‘leak’: Issac ruled out stepping down after the Congress-led opposition demanded his resignation over the leak of his budget speech on social media.
The goof-up occurred after the budget highlights prepared by his office for easy reference reached the hands of the media, a little after Issac began his budget speech.
“This should not have happened. The secrecy of the budget has not affected as 30 documents associated with the budget were intact. The question of resignation does not arise,” Issac told reporters soon after he came out of the assembly.
— IANS
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