Kerala Budget 2021 LIVE UPDATES: Social welfare pensions hiked by Rs 100

Women who arrived for work await data after the Cochin Special Economic Zone that homes a number of industrial items was closed as a part of Covid-19 containment measures in Kochi on Oct 1, 2020. (AP Photo/R S Iyer)
Kerala finances 2021 LIVE UPDATES: A day earlier than presentation of Kerala’s finances, Finance Minister Thomas Isaac Thursday tabled the federal government’s Economic Review 2020 within the state Assembly. He mentioned the state has suffered an financial loss to the tune of Rs 1.56 lakh crore because of the Covid-19 pandemic and subsequent lockdown. Several non-resident Keralites (NRKs) returned to the state from overseas because of the state of affairs.
The Review states that pure disasters, together with Cyclone Ockhi of 2017 and two consecutive floods of 2018 and 2019, additionally had a big effect on the state’s economic system. “The natural disasters ravaged the state economy affecting the lives and livelihoods of many and adversely affecting productive sectors of the economy,” it mentioned.
Kerala’s financial progress price dipped to three.45 per cent in 2019-20 from 6.49 per cent in 2018-19 owing to the calamities. “The quick estimate of Keralas Gross State Domestic Product (GSDP) at constant (2011-12) prices is Rs 5.68 lakh crore in 2019-20 as against the provisional estimate of Rs 5.49 lakh crore in 2018-19, thus registering a rate of growth of 3.45 per cent in 2019-20. The corresponding rate of growth in 2018-19 was 6.49 per cent,” the Review mentioned.