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Centre sanctions Rs 21,253 crore to tackle Kerala's economic crisis

The Indian Central Government allocated substantial financial aid to Kerala at the end of May 2024, allowing the state to borrow up to Rs 21,253 crores until De... The Indian Central Government allocated substantial financial aid to Kerala at the end of May 2024, allowing the state to borrow up to Rs 21,253 crores until December 2024 to address its economic challenges. Kerala has faced severe economic issues, including delayed salaries for state employees and stalled infrastructure projects. The funds are intended to stabilize the economy by ensuring timely payment of salaries and pensions, completing essential infrastructure projects, and enhancing coastal security. This support aims to significantly improve Kerala's economic stability and growth. The state has struggled with economic difficulties since 2017-2018, exacerbated by reliance on remittances, significant flood damage in 2018, high unemployment, and financial stress from welfare spending.

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Centre sanctions Rs 21,253 crore to tackle Kerala's economic crisis

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