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Apart from the arrears, an additional instalment of the pension has been approved for eligible beneficiaries for the month of March.
Balagopal said that more revenue-generating projects would be implemented through KIIFB.
Kerala’s economic growth rate in 2022-23 and 2023-24 lagged behind the national GDP growt.
The government is expecting an additional revenue of Rs 150 crore.
Land tax has been increased by 50 per cent, while tourist bus fares are also set to rise.
The State Planning Board reported that Kerala's GSDP grew by 6.6%, while India's growth rate was 7%.
Finance Minister KN Balagopal's office said that Rs 1,604 cr had been sanctioned for the payment of both the arrears and the standard amounts.
It remains unclear what further scrutiny can be conducted by the departments regarding the findings already detailed by the Information Kerala Mission.
Illegal pension distribution in the 7th ward of Kottakkal municipality uncovered the scam.
The finance minister said that since 2016, KIIFB has spent around Rs 30,000 crore on development of which about Rs 20,000 crore was spent during the second LDF government's tenure.
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