Kerala Finance Min shares study on state economy, says 'to reduce by 10% after normalcy'

Kerala Finance Minister Thomas Isaac on Friday shared a study by Gulati Institute of Finance and Taxation (GIFT) on economy of Kerala. Taking to Twitter, he shared it and stated that  study suggests that Kerala economy will reduce by 10.13 per cent, even after normalcy is restored in state after three months of COVID-19 lockdown. 

Furr, he ded that if it takes six months for recovery of economy,  Gross State Domestic Product  (GSDP) growth will decline by -13.56 per cent. According to Isaac, it will be sharpest recession after  formation of state in 1956.

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Kerala CM demands special financial package

Kerala Chief Minister Pinarayi Vijayan on Friday demanded a special financial package for small-scale industries and entrepreneurs from Centre. While briefing media on Coronavirus situation in his state, CM Vijayan said that package announced by Centre on Wednesday does not dress needs of small-scale entrepreneurs. He also said such entrepreneurs h raised a few demands, including a one-year moratorium on existing loans and avoid interest during this period. 

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He furr ded that state government needs help of Centre to write off charges of electricity of small-scale industries, and workers in small-scale sector need to be given financial aid.

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