Kerala's economy booming during recession
The global recession is taking its toll on
Kerala’s remittance economy with thousands of professionals, technicians and
workers returning over the past six or seven months.
The trickle is expected to turn into a flood soon. Unofficial estimates suggest that 100 to 150 non-resident Keralites (NRKs) are returning from the Gulf, the biggest source of jobs, each week. Over the past 12 to 15 weeks, at least 2,000 people returned in the coastal belt of Thrissur district alone.
Most of those who have returned are skilled workers like carpenters, masons and drivers and technicians like electricians, welders, fitters and plumbers.
Though the government has a separate department to cater to these NRKs, it has only a vague idea about the numbers returning from the Gulf. NRI organisations, however, say at least 15,000 people have already returned and another 10,000 are expected to follow after March 31 when major European andUS
Statistics from the state’s NRI department show that there are 2 million Keralites working in the Gulf. Soman Mathew, an expert in Gulf-related issues, said at least 5 per cent of them may return over the next year to 16 months.
In countries likeKuwait
The growing number of returning NRKs poses a serious threat for the state’s economy which has been heavily based on remittances for the past 50 years. Some Rs 1,500 crore to Rs 2,000 crore pours in from Gulf NRKs every month, most of which is spent on consumer items, education, tourism and construction. NRKs contribute Rs 35 for every Rs 100 deposited in banks operating in the state.
The trickle is expected to turn into a flood soon. Unofficial estimates suggest that 100 to 150 non-resident Keralites (NRKs) are returning from the Gulf, the biggest source of jobs, each week. Over the past 12 to 15 weeks, at least 2,000 people returned in the coastal belt of Thrissur district alone.
Most of those who have returned are skilled workers like carpenters, masons and drivers and technicians like electricians, welders, fitters and plumbers.
Though the government has a separate department to cater to these NRKs, it has only a vague idea about the numbers returning from the Gulf. NRI organisations, however, say at least 15,000 people have already returned and another 10,000 are expected to follow after March 31 when major European and
Statistics from the state’s NRI department show that there are 2 million Keralites working in the Gulf. Soman Mathew, an expert in Gulf-related issues, said at least 5 per cent of them may return over the next year to 16 months.
In countries like
The growing number of returning NRKs poses a serious threat for the state’s economy which has been heavily based on remittances for the past 50 years. Some Rs 1,500 crore to Rs 2,000 crore pours in from Gulf NRKs every month, most of which is spent on consumer items, education, tourism and construction. NRKs contribute Rs 35 for every Rs 100 deposited in banks operating in the state.
|
|
