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A financial controversy surrounds Kerala's Hill Highway Run, with records showing ₹15.34 lakh paid to Milind Soman, contradicting official claims he charged nothing, and significant funds unaccounted for from the ₹1.08 crore budget.
A committee recommended a forensic audit of KIIFB, raising concerns about its financial credibility and prompting a restructuring committee. Despite some lapses, KIIFB has a notable record in infrastructure development.
The railways had formally requested the state government to appoint dedicated nodal officers to oversee and speed up land acquisition in Alappuzha and Palakkad districts.
The committee will scrutinise KIIFB's resource mobilisation strategies
The CAG has disputed Kerala's claim that KIIFB borrowings are contingent liabilities, stating they are effectively state debt as they're repaid from the Consolidated Fund, necessitating their inclusion in budgets and deficit calculations.
Junking certain LDF promises can also free budgetary funds.
Kerala's fiscal health report is a valuable assessment of its challenges, recommending expenditure management and tax reforms, though it overlooks cooperative sector issues and contextually presents debt.
A White Paper criticises KIIFB's functioning, citing skewed project allocations and structural irregularities, arguing its core premise is undermined.
The new government faces implementing five election promises, including free bus travel for women and higher welfare pensions. They must also address policy issues surrounding KIIFB and gold revenue, which may be detailed in a 'revision budget'.
K M Abraham has resigned as Chief Executive Officer of the Kerala Infrastructure Investment Fund Board (KIIFB).
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