UDF white paper paints dire picture of state’s finances

As per the report, govt’s borrowing touched whopping D4 lakh crore

Published: 29th January 2023 10:47 AM  |   Last Updated: 29th January 2023 10:47 AM   |  A+A-

V D Satheesan

Leader of Opposition V D Satheesan interacts with the media after he released the white paper on the LDF government at the Cantonment House in Thiruvananthapuram | Vincent Pulickal, EPS

By Express News Service

THIRUVANANTHAPURAM: Ahead of the Budget on February 3, the UDF has came out with a white paper claiming that the state is in dire financial straits. ‘Kattapurathe Sarkaar’, loosely translated as ‘Non-Working Government’, says the government borrowings have touched a whopping Rs 4 lakh crore.

After releasing the white paper to IUML senior legislator P K Kunhalikutty, Leader of Opposition V D Satheesan questioned how the Kerala Infrastructure Investment Fund Board can implement announced projects worth Rs 70,000 crore with just Rs 3,419 crore in its kitty. The report was prepared by UDF’s subcommittee on finance planning, under the aegis of chairman C P John.

Satheesan warned that the state is passing through a dangerous financial phase where public debt is 39.1% of the gross state domestic product With tax collection down from Rs 71,000 crore to Rs 58,000 crore, Kerala is feeling the heat as GST revenue has become  stagnant.

Unleashing his tirade against the LDF government, Satheesan said the financial mess was due to corruption, mismanagement and extravagance. He alleged that the most affected are government staff and pensioners. “The state government is also feeling the pinch of falling crop prices. The SilverLine rail project has become another white elephant. Kerala is in a state of anarchy,” said Satheesan.

The opposition also lashed out at KIIFB, saying its death knell has sounded. The other members of the subcommittee are: N K Premachandran MP, IUML legislator N Shamsudheen, P C Thomas, Mathew Kuzhalnadan MLA, G Devarajan, and K S Sabarinadhan.


Key points highlighted in the UDF white paper on the state’s financial situation

  • Worrying levels of wealth index
  • Rising fiscal and revenue deficit levels
  • Increased public debt and total liabilities
  • Mismanagement in collecting tax
  • Losing focus of people’s issues
  • Financial impact of buffer-zone issue
  • Destruction of industries sector
  • Loss-making PSUs
  • Punctured KSRTC
  • Derailed Amnesty scheme

UDF Budget


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp