Kerala Budget allocates loan to returnees to commence self employment

The State has again come to the rescue of Non Resident Keralites (NoRKs) who have returned back to the State after losing their jobs due to the economic crisis triggered by the COVID-19.

Minister of Finance K.N. Balagopal said 14,32,736 NoRKs have returned so far to the State and most of them have lost their jobs. To rehabilitate them, ₹1,000 crore is to be provided through financial institutions with low interest for the Norka Self Employment Scheme to enable the needy returnees to begin self-employment enterprises. An amount of ₹25 crore is earmarked as interest subvention in the budget.

The Minister said the budget allocation for Department of Non Resident Keralites (NORKA) and NoRKA Roots, the field agency of NORKA, towards various welfare schemes for expatriate Keralites has also been enhanced to ₹170 crore.

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Printable version | Jan 27, 2022 5:12:26 PM |

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