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Tuesday, Jul 15, 2025
Last month, announcing his decision to not appear before the ED, the former finance minister of Kerala had called the central agency a political tool of BJP.
The company will take up basic infrastructure development projects and allied technical aspects in various sectors, both in and outside India.
The Centre had earlier rejected Kerala’s claims that the Rs 14,000 crore borrowings under KIIFB and KSSPL are not direct debt for the State.
The strict order came on June 13 as the banks did not follow the initial directive given to them in April. With this, many entities under the State Government will have to face obstacles in availing of loans.
The State’s debt which was at Rs 1.90 lakh crore has risen to Rs 3.24 lakh crore over five years, the CAG points out in its annual audit report.
Balagopal said CAG was ignoring the social and economic relevance of the entities that make these borrowings termed as off-budget by the CAG.
And not all of them were the result of governance failures, but at least some could have been prevented from getting out of control.
A Cabinet meeting, chaired by Chief Minister Pinarayi Vijayan, accorded sanction for the environment-friendly buses for the KSRTC-SWIFT at an expense of Rs 455 crore.
The state government is under the apprehension that the Centre may reduce to half the total loan taking capacity of the state which now stands at Rs 32,435 crore.
If this Centre-State conflict persists, Kerala's fiscal position could turn precarious.
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