The decision to sanction the amount was taken at a high level meeting convened by Chief Minister Oommen Chandy on Thursday.
Permanent police staff would be appointed for temple security and additional posts of 233 police personnel would be created for the purpose, official sources said.
Second review of the security proposals submitted by police would be held next week. Experts on security matters also would be invited for the meeting, sources said.
Meanwhile, the five-member committee of experts set up by the Supreme Court to scientifically evaluate the huge treasures found in the vaults of the temple would meet in Thiruvananthapuram to take further steps on the matter.
The panel, headed by Director of National Museums C V Ananda Bose, would meet later in the day, sources said. The committee is understood to have worked out a detailed action plan for carrying out evalutation of the treasure and also on its security.
The panel had submitted its action plan to the apex court. Today's meeting would discuss ways to complete the process on a time bound manner, sources said.
A 'Deva Prasanam (astrologicial examination) conducted in the temple recently had cautioned against evaluation of the huge wealth and taking their visuals.
It had also warned against the examination of the yet to be opened "B" vault since it was located just below the sanctum sanctorum. Earlier, a seven-member panel, which included two former high court judges, had opened five of the six vaults for an inventory and found them containing priceless articles.
Image: Sri Padmanabhaswamy Temple in Thiruvananthapuram
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