Along with land reforms, expatriates have played a huge role in Kerala's financial empowerment, NORKA-Roots Vice Chairperson P. Sreeramakrishnan has said. Keralites who have migrated to West Asia have been able to tap the possibilities that arose in the economy there due to oil production since the 1970s. This expatriate community that put in a lot of hard work in these regions transformed the State's economy, he said.
However, Mr. Sreeramakrishnan said that there has been a lack of sufficient planning in using this financial empowerment for Kerala's development. The State government and NORKA are currently working to amend this record. He was speaking at a loan mela for expatriates organised by the Travancore Pravasi Development Cooperative Society on Wednesday.
The loans are being provided through the Norka Department Project for Return Emigrants (NDPREM). Out of the 16 persons registered with the society, a total of ₹76 lakh in loans were provided to 11 persons. Loans will be distributed to the remaining persons in the coming days. The NDPREM services are now available through 6,000 bank branches in the State.
