WhatsApp Image 2023-02-26 at 9.49.20 AM (1)
WhatsApp Image 2023-02-26 at 9.49.20 AM

Pinarayi justifies KIIFB funding

Kochi: Chief Minister Pinarayi Vijayan has reiterated that the LDF government will go ahead with all the ambitious plans announced by the LDF government.

The Opposition was longing to see Kerala march in the reverse direction and was engaged in creating hurdles in the implementation of various projects, he said.

A group with a sadistic attitude was working to derail the KIIFB programme, he said in the backdrop of the recent CAG report against KIIFB.

But the government will never turn its back on any projects floated by it, he said at a meeting of the chancellors called by the Governor in Thiruvananthapuram.The government will utilise KIIFB help for the higher education sector also, he said.

The CAG report, tabled in the assembly the other day, had flayed the government for taking loans through KIIFB and other agencies outside the purview of annual budget which it said would push the state into a debt trap.

The CAG report had asked the government to include the borrowings carried out by the KIIFB in the annual budget.

Opposition parties had targeted the government after the CAG released its recent report.

The CAG had in January this year said that borrowing money through Kerala Infrastructure Investment Fund Board (KIIFB)  bypassing limits set on government borrowing under article 293(1) of the constitution do not have legislative approval.

Government had borrowed Rs 3,106.57 crore 2018-19 by issue of bonds with a plan to repay them from the petroleum cess and motor vehicles tax.

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