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Our Bureau

Thiruvananthapuram, July 5 The Kerala Government is keen on entering the banking industry, according to the Finance Minister, Dr Thomas Isaac.

Replying to questions in the State Assembly on Thursday, he clarified that Kerala State Financial Enterprises (KSFE) had no plans to start banking operations.

According to him, a major modernisation and expansion plan for KSFE was under way.

The company would open 20 branches after completing the computerisation programme. Also, the guarantee norms for KSFE chits would be liberalised.

In reply to another question, the Minister said that the monthly income from 81 check-posts in the State was Rs 17.89 crore.

The Kerela lottery yielded Rs 237.38 crore in 2005-06 and Rs 236.26 crore last fiscal.

The Lucky VAT scheme would be made more attractive from August, he added.

Dr Isaac also informed the House that four per cent tax was being levied on life-saving drugs and 12.5 per cent on 14 tobacco products. The tax on granite and metals had been raised from four per cent to 12 per cent.

The Electricity Minister, Mr A.K. Balan, said in reply to a question that four small hydel projects had been established in the State with Chinese co-operation.

These are: Chembukkadavu I (2.70 MW); Chembukkadavu II (3.75 MW); Urumi I (3.75 MW); and Urumi II (2.40 MW). These projects have been running successfully, he added.

Mr Balan said that an MoU was signed in 1992 with International Network on Small Hydro Power, a joint initiative of UNIDO and the Chinese Government, for development of 16 small hydel projects in the State.

Out of them, four were completed in 2003-04 and the Government is to decide on the others.

He also said that the Government proposes to develop small hydel projects under three categories.

Some of them would be taken up for implementation directly by the Kerala State Electricity Board (KSEB), some through joint partnership with private sector and some by public sector undertakings.

More Stories on : Financial Institutions | Policy | Kerala

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