Off-Budget borrowings have yet again drawn the criticism of the Comptroller and Auditor General of India whose latest audit report was tabled in the Kerala Legislative Assembly on February 15. Apart from borrowings made by the Kerala Infrastructure Investment Fund Board and the Kerala Social Security Pension Ltd, the borrowings under a bill discounting system also have drawn flak this …
On February 8, Kerala Chief Minister Pinarayi Vijayan will lead a protest in New Delhi against the Centre for “placing Kerala on a financial embargo”. Kerala has moved the Supreme Court contending that the Centre’s imposition of a Net Borrowing Ceiling on the State, which limits borrowings from all sources, violates Article 293 of the Constitution. Major infrastructure projects initiated …
The story so far: Over the past few months, Kerala’s mounting debt liabilities have been brought into sharp focus with the Reserve Bank of India, the Comptroller and Auditor General, and the opposition Congress-led United Democratic Front flagging the issue. Kerala Infrastructure Investment Fund Board A body corporate constituted by the Government of Kerala to mobilise financial resources outside of …
