India News | CM Vijayan Flays Attempt to Discredit KIIFB

Thiruvananthapuram, Nov 16 (PTI) Kerala Chief Minister Pinarayi Vijayan on Tuesday alleged that attempts were being made by those with "sadistic mindset" to discredit the Kerala Infrastructure Investment Fund Board (KIIFB) which has changed the development prospects of the state.

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His statement came days after the CAG, in its report tabled in the Assembly, criticised the state government's off-budget borrowing through the KIIFB, a corporate financial institution under the government to mobilise funds for infrastructure development from outside the state revenue.

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The opposition Congress, raising it as a serious issue, targeted his government politically and demanded an investigation into the findings of the CAG.

Without mentioning CAG but in a veiled attack targeting it, the Chief Minister alleged that the motive behind the move against KIIFB was that the state should not move even an inch from where it is today.

Vijayan made it clear that anything that was started by his government with the aim of development of the state would not be hindered and would go its own way.

"Attempts are being made to discredit and defame KIIFB. Those with a sadistic mindset are behind this move. They feel relieved and happy when Kerala goes back at least a little from where it is now," the Chief Minister said at the chancellor's award presentation ceremony held at Raj Bhavan.

Justifying the state government's decision to rely on KIIFB funds for building infrastructure, Vijayan said the economy of the state was not so resourceful and the lack of economic capacity of the state should not come in the way of fulfilling the aspirations of the future generations.

He said if the education sector is not strengthened citing the inefficiency of the economy, it will become a crime against generations next to come.

A CAG report on Kerala finances, tabled in the state assembly in January during the last session of previous Assembly, had also severely criticised the KIIFB's external borrowings through "Masala Bonds", saying these were not in accordance with the Constitutional provisions and lacked legislative approval.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)