1.5 lk employees in Kerala to lose jobs

Thiruvananthapuram, Nov 24: Stating that several measures had been taken to tackle the global economic crisis in the next budget, Finance Minister T M Thomas Issac told the State Assembly, that about 1.5 lakh employees engaged in Kerala's traditional industries will lose jobs as a result of the global economic crisis. He told this replying to a Calling Attention by Mr P Jayarajan (CPI-M) on the necessity to take urgent steps to protect the people and economy of the state from the affects of the global economic recession.

It was likely that 25 per cent of the jobs in IT sector would be affected by the crisis and it would have a serious impact on the traditional sectors where 1.5 lakh people were expected to lose their jobs. Pointing out that exports from the state had declined drastically in the past couple of months, he said export of coir, marine products, cashew, spices and other items had recorded a decline of 15 to 30 per cent. Similarly, there was a decline of 20 per cent tourist arrival this month.

He said the state's growth rate was likely to come down to six from the present 8.1 per cent.

UNI