Kerala to raise NRK funds for development

KOCHI: Kerala Government will raise Rs 10,000 crore from the non-resident Keralites spread across the globe to finance its two new highway development projects. The money will be raised by launching a Pravasi Chitti scheme by the Kerala State Financial Services Enterprises (KSFE), a wholly-owned non-banking company of the State Government.

The target of the government is to get the chitty subscribed by at least one lakh NRKs in the first year. Kerala Chief Minister Pinarayi Vijayan will soon formally launch the scheme.

Development of two highways — 1267 km-long hill highway and 630 km-long coastal highway —is being taken up by generating Rs 10,000 crore.