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Ker asks Centre to provide Rs 1200 crore to disburse salaries

Press Trust of India  |  Kochi 

today asked the Centre to urgently provideRs 1,200 crore to the state treasury to disburse salary and pension as there is a "drastic reduction" in the state's following

Minister T M Thomas Issac said the state was struggling hard to manage the disbursement of salary and pension in the current month and an amount of Rs 1,200 crore was required on an urgent basis to deal with the situation.

The State Secretary has sent a letter seeking Rs 1,200 crore to the Union Government, he told reporters here.

"The non-availability of currency has put the in a crisis. There is drastic reduction in the state's in the aftermath of drive," Issac said, adding, made the demand as there was shortage of currency in the state treasury to disburse pension and salary.

He said the state's unorganised labour sector was facing big financial crisis due to the drive of Prime Minister Narendra Modi.

"Organised sector is also heading towards in this direction," he said.

"Concerned over the situation prevailing in the country, Non-Resident Indian community is reluctant to send money to India," he said.

Flaying Modi's initiative to shift India to a cashless economy, Issac said countries, which introduced plastic money, had not undertaken demonetisation of existing currency to introduce the new system of financial transaction.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 19:28 IST