Not a single rupee spent by KIIFB has gone into Balagopal's deficit calculations though the CAG had wanted it.
Kerala Minister for Cooperation and Registration V N Vasavan said it was a state subject as per the Constitution and requested the union government to reconsider the move.
To achieve 6.60 percent growth, the economy that faces greater supply and demand constraints than last year has to grow at over 10 percent.
Besides the financial package, finance minister Balagopal also set aside Rs 1,000 crore to provide free vaccination for everyone aged above 18 years.
He handled the state's finances first from 2006-11 in the V S Achuthanandan cabinet and then in the outgoing Pinarayi cabinet.
COVID-19, far more efficiently than inflation, has devalued money. Now, nothing seems enough.
Despite a weak financial structure, Kerala’s Treasury has been buoyant all these five years and the State Government has managed to spend its way through two floods, a cyclone and now Covid.
The I-T department had sought details from KIIFB on the contractors, projects implemented in the last five years, amount handed over to contractors and tax details, among others.
At a press conference held on February 16, Finance Minister Thomas Isaac had stated that the total amount for which projects had been sanctioned by KIIFB came to 63,250.66 cr.
The minister said Kerala has been going through a rare financial year. Unlike previous years, the State has enough money, and no restrictions have been imposed on the Treasuries.