₹5,265.97 crore this financial year. The report is important as Kerala, like several other states hit by the coronavirus pandemic, faces liquidity crunch.But the suggestions are hard to implement owing to public pressures, said experts.Last month, neighbouring Tamil Nadu raised the retirement age in the state by a year, which led to severe criticism.
But the government defended the move by saying that it will help save nearly ₹5,000 crore, aiding its fiscal position.Kerala has one of the lowest retirement ages in the country, set at 56.
The expert panel headed by Sunil Mani, who is the director of Kerala-based research organisation Centre for Development Studies, said raising the retirement age to 58 would help save the cash-strapped.