"It's disappointing as nothing is there for the workers. Moreover, details have to come in," the Finance Minister said.

Centres financial package is disappointing Kerala FM Thomas Isaac
news Economy Thursday, May 14, 2020 - 11:20

Kerala Finance Minister (FM) Thomas Issac has termed the economic package announced by Union Finance Minister Nirmala Sitharaman on Wednesday as disappointing.

"With the world trade going haywire, it appears the Centre is trying to create a 'self-reliant India'. I do not think that this package will help the country. Moreover, things are not clear on what the states can look forward to," the FM said.

"It's disappointing as nothing is there for the workers. Moreover, details have to come in," added Issac.

The minister also announced that a new Budget would be presented by the end of May after taking stock of the COVID-19 pandemic's economic impact. An expert committee has also been appointed to study the impact of the pandemic on state finances. The committee is expected to suggest austerity measures and resource mobilisations, reported The Hindu.

Based on the report by the committee, the planning board will decide spending priorities after which the state government will take a final call on the new budget, informed the minister.

The minister stated that even though the interstate and international migrants are Union subjects, the Kerala state will provide support and protection to the repatriates. Funds would be channelled through local bodies for this purpose, assured the minister.

Meanwhile, CP John, the former State Planning Board member and a key think tank of the Congress-led UDF, welcomed the measures announced by the Union Finance Minister.

"It's heartening to note that detailed analysis has been done while coming to the aid of the MSME sector and it's a very good move. What appears to have been missed out is some sort of sops to the employees as many have lost on salaries and rent," said John.

Kerala, on Wednesday, reported 10 new cases of COVID-19 after witnessing zero to single digit cases for weeks.

(With PTI Inputs)

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