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UDF releases white paper to expose ‘financial mismanagement’

UDF releases white paper to expose ‘financial mismanagement’

Thiruvananthapuram: The United Democratic Front (UDF) has come out with an alternative white paper on the state’s finances to expose the alleged “financial mismanagement” of the Pinarayi Vijayan-led Left government.
Releasing the alternative White Paper here today, Leader of Opposition Ramesh Chennithala alleged that the present financial crisis that the state is undergoing is a result of spendthrift and corruption by the LDF government.

“The public debt of Kerala that was Rs 1.5 lakh crore in 2016 is now touching Rs 2.5 lakh crore. The annual plan fund was reduced to 30 per cent. The government has targeted an increase of 30 per cent in tax collection but was able to achieve only 12 per cent. This tax collection figures also include the GST compensation from the Centre,” he said in a press conference here.

He also questioned the recent foreign trips of the Chief Minister and other ministers and termed it as an “extravaganza”.

“The money taken from World Bank of Rs 1799 crore for various flood aftermath works is deviated by the government for other purposes,” he alleged.

The white paper was prepared by a UDF appointed committee headed by Congress MLA VD Satheesan.

Satheesan said that all financial indicators point to huge public debt and the LDF government failed in asset creation.

“Instead of depositing Rs 2150 crore by selling masala bond in the treasury, it has been deposited in new generation banks,” he said.

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