Thiruvananthapuram: About 1.5 lakh employees engaged in Kerala's traditional industries will lose job as a result of the global economic crisis, Finance Minister T M Thomas Issac told the State Assembly on Monday.
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 affecting the consequences of the global economic recession, the Minister said several steps were being planned in the next budget to face the crisis.
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 export 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.
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