Thiruvananthapuram: Barely days after announcing that the state will open doors to foreign universities, Finance Minister K.N. Balagopal clarified on Wednesday that the government is just looking into the matter.

"In recent times, approximately 30,000 students have chosen to pursue their studies abroad, while another 40,000 students have opted to study in different states. The major concern is the impact of these trends on our state. The state is witnessing a financial loss of nearly Rs 10,000 crores due to this phenomenon. It is to be noted that not all are leaving for educational reasons; a considerable number are leaving to seek employment," he said in the state assembly.

He pointed out that he proposed foreign educational institutions in the state to avoid losing students. 

"It's not the tractor protest of the past. We should be able to adapt to the changing times. MV Govindan had already clarified that the government can't implement every stand taken by CPM. We are only discussing about the foreign universities," he said.