Industry & Economy
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Economy
Kerala Minister seeks rise in treasury deposits
Our Bureau
THIRUVANANTHAPURAM, May 20
THERE has to be an increase in public deposits in the State's treasury if economic development is to happen, said the Kerala Finance Minister Mr K. Sankaranarayanan. He made this observation while speaking at the inauguration of a new sub-treasury within the Kerala Legislative Assembly premises in the city on May 19.
According to him, there are no restrictions on the withdrawal of deposits from the State's treasury. He urged the people of the State to make deposits in the treasury and pointed out that these deposits currently carry an interest rate of up to 9.5 per cent.
The new sub-treasury within the legislative assembly is intended for the exclusive use of members of the legislative assembly, former MLAs and staff of the legislature secretariat. The non-banking treasury will also disburse pensions of retired MLAs. The Speaker of the Kerala Assembly, Mr Vakkom Purushothaman, inaugurated the new treasury. The MLAs Mr B. Vijaykumar and Mr K.B Ganesh Kumar and several senior government officials were present on the occasion.
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