Kerala Finance Minister: State requires ₹30K crore for rebuilding

Flood-battered Kerala needs ₹30,000 crore to rebuild, Finance Minister Thomas Isaac said on Monday.

"We require ₹20,000 for capital expenditure and ₹10,000 for revenue expenditure," Isaac said, adding it would be raised through various means, including cash and kind.

The capital expenditure would go into rebuilding roads, bridges, buildings, while the revenue expenditure would meet the compensation towards agriculture crops besides damage caused to homes and the ₹10,000 to every family who were devastated by the floods.

"₹6,000 crore is expected in cash to come through the various public contribution, besides another ₹4,000 crore will be in kind through various centrally sponsored schemes like the The Mahatma Gandhi National Rural Employment Guarantee Act 2005 and National Rural Livelihood Mission, programmes," Isaac said.

For raising the other ₹20,000 crores, Isaac said the state would approach the Centre and pressurise them to give the nod for borrowings and such modes.

On Monday, Isaac launched a special lottery, with each ticket costing ₹250. The draw would be held on October 3. It is expected to raise around ₹100 crore.