Over the years, the remittances made by them have kept the state economy afloat.
Last fiscal, Kerala received Rs.24,525 crore (Rs.245.25 billion/$5.049 billion) as remittances, which is about 20 percent of the state’s net state domestic product and 30 percent more than the state’s annual receipts.
Kerala has highest per capita debt in southern India
Thiruvananthapuram: Kerala's 2006 per capita debt stood at over Rs.14,300 - the highest among states in south India - against the national average of around Rs.9,000.
This was stated in the Economic Review 2008 tabled in the Kerala Assembly Thursday.
Among the south Indian states, Kerala is followed by Andhra Pradesh with a per capita debt of around Rs.9,300, Tamil Nadu with about Rs.8,600, and Karnataka with about Rs.8,500.
Kerala's per capita debt has been increasing steadily; it was about Rs.8,400 in 2002, Rs.9,700 in 2003, nearly Rs.11,000 in 2004, and about Rs.12,700 in 2005.
This increase comes at a time when the total public debt of the state, according to the 2008-09 budget estimate, is around Rs.61,600 crore, up from Rs.55,400 crore for 2007-08.
The state's public debt for 2008-09 includes an internal debt of around Rs.38,600 crore, small savings provident fund of Rs.17,100 crore, and loans and advances of about Rs.5,900 crore from the central government.
IANS
Rs 2/kg rice, Rs 10K cr to meet crisis in Kerala budget
Thiruvananthapuram: Kerala Finance Minister Thomas Isaac presented the budget in the Assembly here on Friday. The Minister's introductory speech was laced by instances from Thakazhi's famous novel Kayar. The minister said that the present economic crisis drew similarities with some events from the novel. The present crisis should be seen as an opportunity to uplift the woes of the common man, he said.
