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The expenditure will increase further in the coming months as the government had announced several popular programmes, including welfare pensions, before the recent local body election.
Even as the State has been crying foul over the Centre lowering the borrowing limit, Kerala availed a loan of Rs 7,389 crore more than it had availed in the previous fiscal.
He rejected reports in certain quarters raising concerns about the government's failure to collect tax arrears, calling them baseless.
Balagopal wants the LDF government to be seen as the victim of the BJP's authoritarian tendencies.
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