Thiruvananthapuram: Central government has given relief to Kerala which is facing severe financial crisis. Modi government has given 4000 crore rupees for Kerala. With the arrival of additional allocations, Kerala’s treasury recovered from overdraft.
At the same time, the Treasury Department increased interest on short-term fixed deposits to ensure liquidity. This increase will be effective from today. Higher interest rate is for deposits from 1st March to 25th March. The interest rate for 91-day deposits has been increased from 5.9 percent to 7.5 percent.
Apart from Rs 4,000 crore, 2736 crore tax share and IGST share was received from the Centre. With this, the authorities are preparing to pay the salary and pension of the government employees. The distribution of the share by the Modi government comes at a time when allegations are being made that the center is not giving them the rightful share to forget the mismanagement of the state government.
