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As per the report, vehicles that were unfit to ply on roads were involved in 3,097 accidents that took place in the last six years.
Rs 7,100.32 crore was outstanding for more than five years
As many as 354 projects to be completed by March 31, 2021 are still in limbo, of which 74 could not be made operational even after five years, said the report.
In response, KIIFB argues that it is an institution with a "very solid" revenue source.
The CAG pointed out the 'wrong trend' of KSSPL borrowing Rs 6,843 crore in 2019-20 outside the budget.
It was a three-and-a-quarter page portion in the CAG report, a small section titled 'Off-budget borrowings' within the chapter 'Finances of the State Government', that has enraged the finance minister.
The ED has written to the RBI asking whether the KIIFB's move to float 'masala bonds' in London Stock Exchange had its nod.
The government aided by the eminent lawyer, intends to counter the incorporation of certain portions in the final report which were not there in the draft document and the CAG argument that KIIFB does not have the permission to avail loans.
The minister said he was open to detailed debate on the floor of the House if there were any procedural lapses.
When political survival is at stake, legislative privileges take a back seat. Now, the finance minister has not only told the public what to expect from the CAG report but is also attempting to teach the public how to perceive it with incriminating references.