Kerala

Govt. flags investment avenues for diaspora

Isaac says government hopes to mobilise ₹50,000 crore of investment through Kerala Bank

Finance Minister T.M.Thomas Isaac said here on Thursday that the State government hoped to mobilise at least ₹50,000 crore of investment from Non Resident Malayalis through the newly established Kerala Bank.

Addressing a session at the Loka Kerala Sabha, the Finance Minister said the Kerala State Pravasi Welfare Development Cooperative Society would also roll out innovative schemes to attract investment from the diaspora.

Dr.Isaac said the Diaspora Bond and Pravasi Chit Fund Scheme were designed to maximise returns for the investors.

Tourism projects

Tourism Minister Kadakampally Surendran said non-resident Malayalis could participate in tourism projects as individuals or through NRI investment companies.

The Minister added that they could participate in the Champions Boat League as franchisee or sponsor.

A draft Bill for giving legal backing to the Loka Kerala Sabha (LKS) and to make it a fully functional independent body was tabled at the second LKS on Thursday.

At the meeting chaired by Speaker P. Sreeramakrishan, Chairman & Managing Director of Aster DM Healthcare Azad Moopen presented the Bill. The Loka Kerala Sabha will deliberate on the draft Bill on Friday.

The Bill would be presented to the government to be introduced in the Assembly, the Speaker said.

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Printable version | Feb 23, 2020 2:08:58 PM | https://www.thehindu.com/news/national/kerala/govt-flags-investment-avenues-for-diaspora/article30464249.ece

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