Kerala Requires Rs 30,000 Crore for Rebuilding, Says Finance Minister Thomas Isaac
Flood-battered Kerala needs Rs 30,000 crore to rebuild, Finance Minister Thomas Isaac said on Monday.
Alappuzha (Kerala) Sep 3: Flood-battered Kerala needs Rs 30,000 crore to rebuild, Finance Minister Thomas Isaac said on Monday.
"We require Rs 20,000 for capital expenditure and Rs 10,000 for revenue expenditure," Isaac told IANS, adding it would be raised through various means, including cash and kind.
The capital expenditure would go into rebuilding roads, bridges, buildings, while the revenue expenditure would meet the compensation towards agriculture crops besides damage caused to homes and the Rs 10,000 to every family who was devastated by the floods.
"Rs 6,000 crore is expected in cash to come through the various public contribution, besides another Rs 4,000 crore will be in kind through various centrally sponsored schemes like The Mahatma Gandhi National Rural Employment Guarantee Act 2005 and National Rural Livelihood Mission, programmes," Isaac said.
For raising the other Rs 20,000 crores, Isaac said the state would approach the Centre and pressurise them to give the nod for borrowings and such modes.
On Monday, Isaac launched a special lottery, with each ticket costing Rs 250. The draw would be held on October 3. It is expected to raise around Rs 100 crore.
(The above story first appeared on LatestLY on Sep 03, 2018 01:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).