The crisis in Gulf countries is the major reason for financial crisis in Kerala, according to State Finance Minister T.M. Thomas Isaac.
Speaking to reporters at Alappuzha the minister said: “Non-Resident Keralities have curtailed spending in view of the crisis in the Gulf. It has adversely affected the State. To overcome the crisis, government will increase its spending power.”
Minister said that tendering of various works worth Rs. 20,000 crore under KIIFB had been commenced. “Government will carry out Rs. 50,000 of construction activities next year,” Dr. Isaac said. He also said that the implementation of GST was a total failure.
“The GST has slowed down the economy. The non-implementation of e-Way Bill system has badly impacted the State revenue. We hope the revenue from GST will go up in the State in six months,” Minister said.
Dr Isaac also said that the government would interfere to make sure the availability of construction materials in the State.

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