This was stated by State Finance Minister K M Mani while wrapping up the discussion on the budget for the financialyear 2012-2013 in the assembly.
He said the decision was taken to address the grievances of the youth in the wake of raising the retirement age ofgovernment employees from 55 to 56 years.
Government would also introduce a Voluntary Retirement Scheme for teachers in the state, he said. In another major decision, Mani said government planned to start a Television Channel and also set up a Media city inKochi.
Mani also announced a slew of new schemes, estimated to cost an additional expenditure of Rs.133.32 crore including aproposal to extend scholarship to students from backward section, with a total outlay of Rs.25 crore.
In a relief to those who had taken educational loans for professional studies, it was decided that the government wouldbear the interest part of the loan from 2003-2009. After 2009, the Centre had already announced a scheme to help the students who had availed loans.
The Media city under the state public relation department would come up in Kochi, he said.
An amount of Rs. One crore was earmarked for the Insurance scheme of the Kerala Union of Working Journalists. Later, the House passed the budget.