Kerala Budget 2018 : Demonetisation was cyclone Ockhi on economy, says Thomas Issac

Demonetisation was cyclone Ockhi on economy, says Thomas Issac

Kerala Finance Minister Thomas Isaac on Friday compared the demonetisation drive by the Center with Cyclone ‘Ockhi’, which ravaged the Kerala coast, leading to the death of scores of people.

Thomas Issac, while presenting the annual budget in the state assembly, asserted that the decision to scrap the currency of high values was like Cyclone ‘Ockhi’ on the Indian economy.

Further targeting the ruling National Democratic Alliance (NDA), the Kerala Minister expressed disappointed on the rolling out of the Goods and Service Tax (GST).

Also Read : Kerala Budget 2018 : This will be common man’s budget, says Thomas Issac

“Demonetisation was a cyclone ‘Ockhi’ on the economy and the Goods and Service Tax (GST), rolled out by the government, was very disappointing. The end consumers are not getting the actual benefits of the GST and the corporate sectors are making the most out of this,” he said.

The Kerala Finance Minister also announced Rs 2000 crores coastal area package and allotted around Rs 600 crores to the fisheries sector.