TDB explores ways to diversify finances
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In view of a seamless free fall of earnings accelerated by the pandemic, the Travancore Devaswom Board is exploring ways to diversify its finances to tide over the disaster.
According to N.Vasu, president, TDB, preliminary discussions are on to establish the choices in lieu of the disruption of the board’s financial mannequin because the second wave of the pandemic has spiraled the decline in income uncontrolled.
“The financial profile of the TDB has diminished to the point of virtual invisibility so that it cannot sustain without the state’s support anymore. In this backdrop, preliminary discussions are on whether the board can leverage the idle property in its possession and generate sustainable income,” he mentioned.
As a part of it, the board seeks to re-purpose about 3,000 acres of prime land by establishing remunerative initiatives utilizing buyers from exterior. “The investment plans may be prepared in a way so as these projects do not to affect any of the temples under the board or the rituals, while also retaining with it the legal rights over the land. It , in turn, may also help proper upkeep of the properties that are under the constant threat of encroachment,” he added.
The restrictions imposed due to COVID-19 was having a drastic impact on the income supply of the TDB with the board struggling a lack of about ₹600 crore since March 2020. With some 5,500 staff on its rolls and virtually identical variety of pensioners, it incurs round ₹50 crore each month.
The earnings from Sabarimala, which used to be the board’s essential keep for lengthy fell to ₹21 crore over the past pilgrimage season as in opposition to ₹270 within the earlier yr. The uncertainty over the size of the pandemic-induced disruptions has solely exacerbated the fears of subsequent season additionally changing into a monetary catastrophe.
During the earlier fiscal, the TDB acquired a monetary help of ₹90 crore from the state authorities in two instalments. In view of the persevering with misery, it has as soon as once more approached the state authorities for an emergency short-term help.
Meanwhile, official sources mentioned the TDB was additionally wanting to take over the digital queue from the Kerala police from the upcoming Mandalam-Makaravilakku season onward. The motion is being initiated in view of a extreme underutilisation of the each day quota of pilgrims.
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