Kerala Finance Minister Thomas Isaac presented the revised budget in the Kerala assembly, which provides an increased allocation for the diaspora across world.

The 'alteration memorandum' of the state budget was presented by the state finance minister, as the Communist Party of India-Marxist (CPI-M)-led Pinarayi Vijayan government assumed office on May 25 this year.

"At present there is an allocation of just Rs 1 lakh in the welfare fund for the return diaspora, and I am increasing it to Rs 10 crore. This is meant to increase the benefits paid out to the needy," said Isaac.

The minister also decided to double the allocation from Rs 12 crore to Rs 24 crore in the scheme for rehabilitation of those who have returned.

"The previous government had begun a loan scheme jointly with financial institutions for the diaspora who wish to start a business. But that programme failed to take off due to nonpayment of back-end subsidy upfront. We will ensure that the back-end subsidy is paid up front," he said.

"There are two sections of our diaspora: Those who seek a rehabilitation once they are here, and the other group that is looking to invest and also seeking jobs. We are planning special parks where the diaspora can invest," Isaac added.

Also Read: Odisha set to launch online Odia courses for diaspora!

Nandini