Kerala to pursue legal steps to avail foreign aid, says CM Pinarayi Vijayan

Agencies
August 30, 2018

Thiruvananthapuram, Aug 30: As Kerala picks up the pieces, Chief Minister Pinarayi Vijayan today said the government would explore the possibility of legal options to avail the funds offered to the state, including that from abroad. 

His statement assumes significance in the wake of a row over the Centre's refusal to accept the United Arab Emirates' (UAE) reported offer of Rs 700 crore to the flood-hit state.

Addressing a specially convened one-day session of the state assembly to discuss the unprecedented flood situation, Vijayan said 483 people have lost lives in the state since the onset of monsoon on May 28 and 14 were still missing.

He said the state's economy had been badly hit and the loss could be much more than the state's annual plan outlay for the year which stood at Rs 37,247.99 crore.

"Offers of financial assistance for Kerala are pouring in from different quarters of the world. The government is also moving towards legal steps to avail these funds," Vijayan said.

The funds offered from across the globe is giving confidence to the government, he said. 

Besides Rs 600 crore sanctioned by the Centre, the state was hopeful to get more financial assistance from the Union government considering the gravity of the situation, the chief minister said.

"The Chief Minister's distress relief fund has received Rs 730 crore till yesterday," he said, adding that the government had also been offered land and jewels towards relief fund.

On the discussions held with World Bank officials as part of fund mobilisation for rebuilding the state, Vijayan said the government policy was to accept funds from any quarters if it was in tune with the state's interests.

Apparently referring to the Opposition charge that the deluge that ravaged the state was due to the sudden release of water from dams without any prior warning, the chief minister said unexpected torrential rains had resulted in the calamity.

"The state had received rains three times more than what was predicted by the India Meteorological Department (IMD) during the period," he said.

The IMD had forecast an estimated 98.5mm rainfall in the state between August 9 and 15. But, the actual rainfall received was 352.2 mm, he added.

Terming the calamity as the worst in the century that had virtually battered all sections of the economy, the Left leader said 57,000 hectares of agricultural land was flooded.

Flood water entered lakhs of houses forcing people to flee to relief camps, he said. 

But rescue operations were carried out promptly and on a war-footing by the government in coordination with various defence forces. The effort helped reduce the death toll, Vijayan said.

With regard to the rehabilitation programmes, he said the gravity of the calamity had also raised some environment issues. 

"One of the most significant points is whether to rehabilitate the displaced people in the same places where landslips, landslides and mud slips occurred. A consensus has to be evolved in this," the Kerala chief minister said.

He also wanted that environmental aspects should be considered while taking up construction activities in these areas.

Incessant rains and floods have forced over 14.50 lakh people to seek refuge in relief camps across the state, he said, adding that over 59,000 people are still lodged in 305 camps.

Meanwhile, Opposition member V D Satheesan (Congress) maintained the charge that the floods were due to the simultaneous release of water from various dams. 

CPI(M) veteran and former chief minister V S Achuthanandan batted for the implementation of the Madhav Gadgil committee report on the preservation of ecologically fragile Western Ghats to avoid such calamities in future.

He also wanted all illegal constructions in the ecologically sensitive areas to be removed.

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News Network
March 29,2020

Theni, Mar 29: A young man under home quarantine for coronavirus after return from Sri Lanka suddenly ran out of his house and fatally bit a 80-year old woman in his neighbourhood in a village near here, police said on Saturday.

The woman with injuries in her neck was hospitalised late Friday after the incident but died on Saturday without responding to treatment, they said.

The man, a resident of Jakkamanayakanpatti and engaged in seasonal business in clothing, was overpowered and handed over to police, who arrested him and investigations were on.

He had recently returned from Sri Lanka and directed to remain under quarantine by health authorities as per the protocol for foreign returnees to check coronavirus spread.

He came out of his house on Friday evening and all of a sudden, denuded himself and began running through the street.

Shocked family members including his father gave a chase even as he caught hold of Nachiyammal, seated on her house’s front yard and bit hard her neck.

The man’s kin overpowered him and admitted the woman to nearby Bodi Government Hospital where doctors on Saturday said she succumbed to her injuries, not responding to treatment. Health authorities were unavailable for comments immediately.

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News Network
March 20,2020

New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.

"The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.

Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.

"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.

In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.

"This time, there will be no victors, only the vanquished. So every country will have to create its own post ‘virus war” marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle," Mahindra said.

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News Network
March 27,2020

Mumbai, Mar 27: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Monetary Policy Committee (MPC) has taken note of the global economic activity coming to a near standstill due to the coronavirus pandemic and added that large parts of the world could slip into recession in the coming days to the coronavirus crisis.
"The MPC noted that global economic activity has come to a near stand-still as COVID-19 related lockdowns and social distancing are imposed across a widening swath of affected countries. Expectations of a shallow recovery in 2020, from 2019's decade low in global growth, have been dashed," Das said.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the world will slip into recession," he added.
The RBI Governor further added that "the implied GDP growth of 4.7 per cent in Quarter 4 of 2019-20, in the second advance estimates of the National Statistics Office which was released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk."
As per the outlook for the year 2020-21, Das said, "Apart from continuing resilience of agriculture and allied activities most other sectors of the economy will be adversely impacted by the pandemic depending upon, its intensity, spread and duration."
Das also announced a reduction in the repo and reverse repo rates for banks.
"The repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent," Das said addressing the media.
The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability." 

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