INDIA'S NEWS CHAnnel for digital media
It is unfortunate that Centre has chosen to oppose extension of GST Compensation Scheme for couple of years more so that present inevitable fall in revenues of majority of states could have been avoided.
Thomas Isaac – former finance minister, kerala
It would also create a conducive atmosphere for much needed reforms in GST.
Dr Thomas Isaac – Former Finance Minister, Kerala:
Indian software, pharmaceutical and other industries gained from ASEAN FTA.
But it dealt body blow to rubber farmers of Kerala because of the decline in domestic rubber price.
Instead of compensating Kerala Niti Aayog wants to end all subsidies and to even close down Rubber Board.
Thomas Isaac – Former Finance Minister, Kerala:
As Europe turns to right, the Left triumphs in Latin America, the latest being Brazil.
Lula would have to watch out for, besides Bolsonaro ,the machinations of global finance.
It has just demonstrated its ability to make and unmake governments, of even His Majesty’s in UK.
Thomas Isaac – Former Finance Minister, Kerala:
Last 25 years, local govts in Kerala have been preparing the annual plans inclusive of UFC grants, state grants and special loans along with their budgets.
This year Centre is insisting on a separate time frame and process for UFC funds rejecting importance of integrated planning.
Thomas Isaac – Former Finance Minister, Kerala:
Can there be anything more perverse than state govts in India keeping an unspent balance of more than ₹2 lakh crores in the treasury as surplus and invest the amount in short term GOI securities?
Exception has been state of Kerala. Why do the states dare not spend even in Covid?
The states have so much internalised the neoliberal dictum of zero revenue deficit that they do not want to spend their borrowed funds on revenue expenditure ie.providing relief to people even under Covid. Can there be anything more ridiculous? And UP and Bihar lead the pack.
In sharp contrast, Kerala never had a treasury surplus in the last 3 years and during Covid treasury was always in ways and means minus.
We did not mind going into overdraft. More important was providing comprehensive health care and food to people during Covid.
File Pic
Thomas Isaac – Former Finance Minister, Kerala :
Only 6 out 1000 children born in Kerala die before their first birth day.
The infant mortality rate India is 30.
Kerala is the only state with single digit IMR.
At 6 Kerala is on par with China and USA.
Thomas Isaac – Former Finance Minister, Kerala :
Prices hiked for fourth consecutive day pushing total increase in prices by ₹36 on petrol and ₹26.58 on diesel since May 2020 when taxes were hiked to deny people benefits of crash in crude price.
But now crude prices are rising Union Govt is refusing to roll back hike in tax .
Thomas Isaac – Former Finance Minister, Kerala :
Kerala changes strategy after 40 days, successfully reining in the Covid surge.
Calibrated restrictions at local government level depending on intensity of virus spread.
Triple lockdown if TPR is above 30%, total lockdown if TPR is 20-30% and partial lockdown if TPR is 8-20%.
Thomas Isaac – Former Finance Minister, Kerala
The new KPCC President, who has always been soft towards BJP says that BJP is not the main enemy in Kerala.
His agenda seems to be resurrecting the anti Marxist front including BJP – a shot in the arms for BJP that has slipped into deep morass after the election debacle.
India had joined with Trump administration to block proposal for creation of additional SDR to meet Covid global recession challenge, especially for least developed countries.
Why not revisit the proposal to finance covid universal global vaccination program?
Dr Thomas Isaac, Former Finance Minister, Kerala :
Fiasco of Indian vaccine policy is going to cost country dearly.
Current year’s GDP growth, even if positive, is unlikely to raise economy to pre-pandemic level.
And if a third wave hit us,current year growth also will be negative on the top of previous years severe contraction.
Thomas Isaac – CPIM leader:
Development Agenda of new LDF government:
Take forward welfare-livelihood program to abolish absolute poverty.
Overcome infrastructure deficit with the help of KIIFB.
Tackle unemployment, generating quality jobs by transforming Kerala into a knowledge economy
The interstate migrant workers in Kerala will also be given free food kits during lockdown.
Thomas Isaac – Finance Minister, Kerala
The local governments will prepare the list of migrant workers, ensure hygienic conditions in their settlements, provide medicare and distribute free food from People’s Hotels, if necessary.
There is no sufficient production of vaccine in India to supply states demand.
The centres move to earmark 18-45 age group for vaccination by states through direct procurement is a clever political ploy to put blame on states for the confusion that is inevitable
We need daily production of more than 65 lakh doses if we are to cover entire population above age 18.
But daily production is only 30 lakh doses.
What is the agenda of central govt to boost production?
Stop vaccine exports for now.
A program to expand the capacity?
It is now official. Kerala CM has endorsed vaccine challenge.
Dr Thomas Isaac – Finance Minister, Kerala
At 9 PM the remittances to CMRF vaccine account have crossed ₹1.65 crores.
Only BJP has been denigrating this spontaneous initiative from below. If any one has doubts read the comments on my tweets
Earlier Tweet
In solidarity with the protests against Centres Vaccine Policy few youth launch a hashtag campaign (#vaccinechallenge) to donate the cost of 2 doses to CMDRF, while insisting on free vaccination.
Within 24 hours ₹35 lakhs remitted.
Thomas Isaac, Kerala Finance Minister :
Why doesn’t Kerala have Mandi system?
Elementary bakht -more than 80% of our cropped area are under commercial crops for which there are separate Commodity Boards with independent marketing regulations. (Coconut exempted.)
Yet we intervened with MSP to protect the farmers.
The central govt`s claim of a stimulus of 15% of GDP through the 3 packages is an empty boast.
The actual direct extra govt expenditure from the budget comes to only Rs 3.72 lakh crore ie. 1.9% of GDP,
12 to 20 % of the stimulus in major economies.
Package 3 falls far short of expectations
₹84000 cr and not ₹2.65 lakh cr is the additional budget outflow, a mere 0.4% of GDP.
Without reduction in prices, additional ₹65000 fertiliser subsidy only indicates it was originally underfunded and
₹1.46 lakh for PLI is for 5 years
Thomas Isaac – Finance Minister, Kerala:
To implement Option One without GST Council formally deciding on the extension of Compensation payments beyond 5 years is illegal.
GST Council should be convened and search for a consensus continued.
Dr Thomas Isaac – Finance Minister, Kerala:
Some of the States are likely to approach SC against discriminatory and illegal action of Centre regarding GST Compensation.
Kerala CM to chair a meeting of law, tax and finance departments and advocate general to take final decision on Kerala’s stance tomorrow afternoon.
According to IMF, with catastrophic economic collapse India will slide to 3rd poorest in South Asia with only Pakistan and Nepal reporting lower per capita GDP.
Even Bangladesh would move ahead of India with $1888per capita as against India’s $1877 in 2020. Total policy failure!
Dr Thomas Isaac – Finance Minister, Kerala:
Kerala has become first state to achieve total digitalisation of school education.
42000 class rooms from 8th to 12th have laptops, projectors and screens. Class rooms networked with school studios.
All LP and UP schools ensured at least one smart class room with computer lab.
