Kerala cabinet approves KPMG's crowdfunding proposal

Thiruvananthapuram: Kerala cabinet has approved the crowdfunding proposal recommended by KPMG, the consultant partners for rebuilding Kerala.

Industries minister E. P. Jayarajan, who presided over the cabinet meeting in the absence of chief minister Pinarayi Vijayan, said the agency had also recommended setting up of a mission for coordinating the post-flood rebuilding activities.

“It’s a preliminary report. Based on the recommendations, we have in principle agreed on crowdfunding and the details will be worked out later,” he said briefing reporters the cabinet decisions on Wednesday.

According to the decision, a Mission director would be appointed to coordinate activities under the rebuilding exercise. The model envisages accepting sponsorship for different projects as part of the crowdfunding scheme.

Sponsorship will be accepted based on conditions for the construction of houses, livelihood means and creating basic infrastructure.

District collectors have been asked to collect details of the individuals, sponsors, establishments and institutions coming forward to sponsor projects. The local bodies will also gather information on sponsors and institutions in their respective areas.

When asked about the propriety of implementing the recommendations of KPMG which was involved in many controversies, he said this was the only agency cooperating with the government as of now and that too without charging any fee.

"If other agencies come forward to help us, we would gladly accept such offers," he said.