UDF releases White Paper on financial crisis in Kerala

Ahead of the budget session in Kerala, the Opposition Congress-led United Democratic Front (UDF) on Saturday released a White Paper on the financial crisis faced by the State and attacked the Left government by saying the fiscal indicators show that the State is in a “danger spot.”

Leader of Opposition in the State Assembly V D Satheesan released the White Paper here along with other Front leaders and alleged mismanagement in tax collection.

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“This White paper points out the severe financial crisis faced by the State. The fiscal indicators in our White Paper show that Kerala is in a danger spot. Our total debt is over Rs four lakh crore,” Satheesan said addressing reporters at Cantonment House, his official residence here.

The Opposition Leader said the income from tax collection has come down. “Tax collection in the State has come down drastically… KIIFB has become a total failure. They announced projects worth Rs 70,000 crore within five years but in the last six years, projects worth only Rs 6,000 crore were implemented,” he said.

The White Paper was prepared by a UDF committee.