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TMI BlogKerala CM defends KIIFB in Assembly; terms it important for state's developmentX X X X Extracts X X X X X X X X Extracts X X X X ..... Kerala CM defends KIIFB in Assembly; terms it important for state's development X X X X Extracts X X X X X X X X Extracts X X X X ..... 000 crore in the last eight years. Speaking during the budget discussion for the financial year 2025-26 in the Assembly, Vijayan said it was necessary to set the record straight with regard to the work done by KIIFB over the years as it has been severely disparaged by the opposition consistently. He said that the state was able to quickly achieve infrastructure development through KIIFB which ot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herwise would have taken years to implement. The CM said that KIIFB was an innovative, bold and alternative model of development. He also said that the KIIFB's expenditure on development projects was more than what the Oommen Chandy government spent as capital expenditure. Vijayan said that the opposition and its leader in the Assembly, V D Satheesan, have not fully understood how KIIFB functio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns. "The state government through KIIFB has brought unparalleled development to Kerala in the last eight and a half years," he contended. The CM said that the inclusion of KIIFB and similar institutions in the state's borrowing limit in 2022 was a result of a policy change adopted by the central government and as a result, Kerala's right to take more loans was cut down. "It was in such a situat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion that the Kerala government filed a suit in the Supreme Court under Article 131 of the Constitution against the central government's approach. That case is currently under consideration by the Supreme Court," he added. Vijayan further said that it was due to the "discriminatory approach" of the central government that the state, in principle, considered how to make KIIFB projects revenue-gener ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating.
If KIIFB projects are revenue-generating, then its loans can be excluded from the state's borrowing limits, he said.
He also said that it was only because KIIFB repays its loans correctly and on time that it was able to maintain a good credit rating and financial institutions were willing to provide loans to it. PTI HMP HMP KH X X X X Extracts X X X X X X X X Extracts X X X X
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