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Kerala suffered Rs 1 56 trn revenue loss due to pandemic: FinMin Isaac

Already ravaged by Ockhi Cyclone and two consecutive floods during the previous years, Kerala has suffered a revenue loss of Rs 1.56 lakh crore due to the COVID-19 pandemic and subsequent lockdown, state Finance Minister T M Thomas Isaac said on Thursday. Isaac, who tabled the Left government s Economic Review 2020 in the state assembly, a day ahead of the state budget, said natural disasters including Cyclone Ockhi of 2017, two consecutive floods of 2018, 19 and the pandemic affected the state s economy along with the return of non-resident Keralites (NRKs) from abroad, mostly following job loss. The state s growth rates, which were higher than the national rates of growth saw a downward trend in 2019-20, due to the setbacks the state economy faced during the last three years, the Review said.

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