Thiruvananthapuram: The finance minister allocated Rs 80 crore for the welfare of Keralites living abroad in 2018-19, the highest ever announced for a fiscal year.
The Kerala Infrastructure Investment Fund Board will issue masala bonds — rupee-denominated bonds sold and listed overseas — to raise funds from NRIs, Thomas Isaac said.
Also, Kerala State Financial Enterprises will commence a chit fund for NRIs in March or April. Proposals are under consideration to offer insurance cover and pension to those who subscribe to the fund, the minister said.
Thought these programs, the government is aiming for the participation of NRIs in the development of the state, Isaac said.
More funds will be allocated towards the Loka Kerala Sabha, which seeks to bring the Malayalee diaspora together. A 24-hour helpline facility will be provided under this, he said.
Also, on the cards is an online database of NRIs.
In fact, the announcement on the online NRI database is a repeat of what Isaac had promised in the previous Budget, but could not be fulfilled.
