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The Kerala Assembly debate on KIIFB turned into a sharp political showdown, with V D Satheesan attacking its borrowing model, land purchases and governance while the LDF defended the fund’s legacy.
In the Kerala Assembly, Chief Minister V D Satheesan attacked the KIIFB system and the Sudha Pillai Committee’s findings, flagging borrowing, land acquisition and governance concerns.
The Sudha Pillai Committee revealed that Kerala Chief Minister Pinarayi Vijayan and Finance Minister K N Balagopal improperly overruled the Finance Department's warnings against guaranteeing KIIFB loans, violating government rules of business.
Four police officers were transferred from Kollam Rural Police after an inquiry found their participation in a campaign video supporting an LDF candidate breached election rules, despite their defence.
Former minister Balagopal demands an apology from Kerala's CM and UDF, claiming their white paper misrepresented the state's finances, citing strong revenue growth as proof of LDF policies.
Opposition claims about a shelved Bacardi tax proposal contradict former minister's statement that it remained under consideration, highlighting internal inconsistencies.
The LDF boycotted Assembly proceedings due to the Finance Bill's passage without Subject Committee referral, citing procedural impropriety and executive overreach regarding liquor tax rates.
Junking certain LDF promises can also free budgetary funds.
Former Finance Minister T M Thomas Isaac alleged that Kerala's 'white paper' was generated using AI, potentially with leaked secret data, leading to factual errors regarding development expenditure and SC/ST allocations.
Kerala's Chief Minister alleges the previous LDF government presented a budget with a missing ₹20,000 crore by making 'wild guesses' about Finance Commission allocations, a claim former Finance Minister denies, stating it was a strategic fiscal decision.
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