A long-time Non-Resident Keralite residing in the UAE has suggested to Chief Minister V.D. Satheesan to prioritize the Thiruvananthapuram-Kasaragod high-speed rail corridor for utilizing Kerala’s expatriate remittances. K.V. Shamsudheen, Chairman of Pravasi Bandhu Welfare Trust, recommended issuing tax-free bonds to Non-Resident Keralites, drawing inspiration from the successful financing model of the Konkan Railway.
Shamsudheen emphasized the potential for Malayali expatriates to invest in Kerala if provided with credible opportunities, citing the substantial remittances flowing into the state annually. He highlighted the need to redirect Non-Resident External deposits towards productive investments to boost Kerala’s economy and create employment opportunities. The proposal aligns with Chief Minister Satheesan’s vision of transitioning remittances into long-term investments for the state’s development.
The veteran Non-Resident Keralite advocated for a shift towards infrastructure and employment-generating projects, emphasizing the abundance of financial and human resources in Kerala waiting to be leveraged. He urged the government to consider bond-based financing not only for the high-speed railway but also for other key infrastructure initiatives, aiming to tap into Kerala’s untapped potential for economic growth.
