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A committee reviewing KIIFB has recommended ending its special funding arrangements and taking its ongoing projects under government departments, warning that the mechanism is draining Kerala’s finances and adding to the state’s debt burden.
Former minister Thomas Isaac defended Kerala’s KIIFB model, warning that relying on regular budgets would delay development by twenty-five years, amid a review committee reporting substantial liabilities and pending projects.
Seven months after inauguration, the C K Omkaranathan Indoor Stadium remains shut because the state government has not cleared two crore rupees in dues to the contractor, leaving athletes waiting.
Palakkad Municipality's modern slaughterhouse project has stalled for eight years due to a land title dispute with the Revenue Department, risking vital funding and perpetuating severe local pollution and health concerns.
The ₹1,900-crore Sabari rail project faces uncertainty due to delays in Kerala's funding, with KIIFB restructuring impacting the state's share for land acquisition.
A ₹93.22-crore coastal protection project, including a sea wall and tetrapod breakwaters, has begun at Pozhiyoor, Kerala, to combat severe erosion impacting over 3,000 families.
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
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