Kochi: Kerala Chief Minister V D Satheesan on Monday said that the Congress-led multi-party coalition government will shortly bring out a White Paper on the state of State finances.
An expert committee will be constituted for drafting the white paper to tell the people about the financial status of the state, Satheesan told reporters after the first cabinet meeting.
The government’s approach to the Left Front’s Kerala Infrastructure Investment Fund Board (KIIFB) introduced in 2016 remains to be seen.
When in Opposition, Satheesan constantly
accused of bringing the KIIFB to bypass the constitution and Fiscal Responsibility and Budget Management (FRBM) Act.
The Comptroller and Auditor General (CAG) too criticised off-Budget borrowings by the KIIFB and warned of the possibility of the State falling into a debt trap.
When LDF replaced UDF in 2016, the CPM led government brought a white paper.
Earlier, Kerala Governor Rajendra Vishwanath Arlekar administered the oath of office to Satheesan and his 20-member council of ministers. Fourteen ministers in the new cabinet are first-time ministers.
Congress president Mallikarjun Kharge, Leader of Opposition in Lok Sabha Rahul Gandhi, his sister Priyanka Gandhi Vadra, MP, outgoing Chief Minister Pinarayi Vijayan and BJP leader Rajeev Chandrasekhar were also present on stage.
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