The CPI (M)-led LDF government in Kerala has lined up Rs 50,000 crore worth infrastructure work in the current fiscal to revive the economy, badly hit by demonetisation and implementation of GST, state Finance Minister T M Thomas Isaac said today.
Of this amount, administrative sanction had already been accorded to works worth Rs 20,000 crore and approval for the remaining would also be given soon, he said.
Stating that Kerala as well as the nation was in the grip of a fiscal crisis after the note ban and implementation of GST, Isaac claimed this state government initiative was one of the biggest packages ever announced in the country.
He said the fiscal problem faced by the state would not affect the proposed investments.
Isaac was replying to a calling attention in the assembly on the need to solve the fiscal crisis faced by many sectors in Kerala due to demonetisation and GST implementation.
Rejecting the opposition UDF’s charge that the state government has not taken any steps to rejuvenate the economy, he announced that Rs 50,000 crore worth infrastructure work had been lined up for this fiscal.Read More