Kerala planning to borrow Rs 1,000 crore for Onam

  • An additional Rs 3,000 crore bill also expected
  • During last Onam, the government spent Rs 12,000 crore
The government is aiming to borrow Rs 24,084 crore this financial year: Photo | Manorama

Thiruvananthapuram: The Kerala government is looking to borrow again in view of the upcoming Onam expenditures. The government is planning to issue bonds to raise Rs 1,000 crore.

Though the amount will be raised in the name of development works, a big chunk of it would be used for paying salaries and other benefits including festival benefits to state employees.  It is understood that apart from this, the government would need to borrow Rs 3,000 crore more.

Once finance minister Thomas Isaac returns from his treatment, the time schedule for distributing Onam salaries, pension, welfare pension and others will be decided.

Forty-two lakh people are yet to be paid their four months' welfare pension. Apart from them, the finance department is looking at providing welfare pension to the three-and-a-half lakh new applicants of welfare pension.

Since the process of weeding out ineligible beneficiaries is yet to be over from the present list of 42 lakh, all those who got the welfare pension last time will get it now too.

Apart from this, next two months' pension and salaries will have to be distributed. The government needs to find funds for bonus too.

During last Onam, the government spent Rs 12,000 crore. The amount will be no lesser this time either.

The government is aiming to borrow Rs 24,084 crore this financial year. The government's public debt now stands at Rs 1.42 lakh crore.

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