THIRUVANANTHAPURAM: The Kerala economy is facing tough challenges during the lockdown with the state’s own tax revenue collection down to almost nil, Chief Minister Pinarayi Vijayan has said. An expert committee will be appointed to study the financial problems and forthcoming consequences of Covid-19 spread. Though the country’s economic growth stooped below 5 per cent, Kerala was able to retain its growth rate at 7.5 per cent, he said.
At his daily presser, Pinarayi said that the state had huge financial commitments to achieve its targets in the sectors of health and food security. The consumer state’s growth in construction and tourism sectors was largely dependent on expatriate remittances. That too saw a huge drop, he said.