Financial discipline, expenditure reduction essential: FM
Thiruvananthapuram: Presenting the annual state budget, Finance minister Dr. Thomas Isaac that financial discipline and expenditure reduction are essential in the light of the financial crisis.
He added that there is huge difference between revenue and expenditure. However, the project expenses will not be curbed.
The revenue deficit will be maintained as 3.1 per cent this financial year. NRK (Non Resident Keralites) Chit fund will commence by April as part of KIIFB fund raising.
The NRKs joining in the chit will avail insurance and pension. KIIFB will raise fund through various forms of bonds.