Govt to set up panel to study COVID-19 impact on economy.

Thiruvanthapuram:  Chief Minister Pinarayi Vijayan said on Wednesday that an expert panel would be set up to study the economic impact of COVID-19 situation in the state.

COVID-19 situation would cause repercussions on the state’s economy; it has already blocked revenue returns, while stressing on expenditure.   

Expenditure on both health and food security is inevitable; however, the Centre denied the state’s appeal for help in areas including distress relief fund. Kerala is facing a heavy challenge, he said.

Buying power in the state was augmented by remittance from Diaspora, construction and tourism sectors. 

However, with the onset of COVID-19, things have changed.  Whatever may be the situation, the state cannot help going ahead.

People from all walks are contributing to the relief fund. Even in the midst of crisis Diaspora is also doing their bits.

Given this situation, the government decided to temporarily set aside one month salary of employees in five installments in as many months.

Even during the crisis across the nation, the state managed to post 7.5 percent growth.

Despite the crunch in economy, the government had not backed away from welfare works.