The Kerala government on Wednesday decided to increase the authorised share capital of a state-run corporation, working for the welfare of backward communities, to Rs 200 crore. At present, the authorised capital of the Kerala State Backward Classes Development Corporation (KSBCDC) Limited is Rs 150 crore, a CMO statement said here.
A private limited company, fully owned by the Government of Kerala, the KSBCDC is envisaged to uplift the backward classes from poverty and backwardness. Among other things, the cabinet also directed the Finance Department to allocate Rs 42.75 crore via additional authorisation for the smooth implementation of the 'Punargeham', a rehabilitation and housing project for the fisherfolk, it said. Sanction would also be granted for the purchase of four vehicles for the Mobile Intervention Unit of the Excise Department, the CMO statement added.
