Kerala Financially Distressed Due To Poor Governance By UDF, LDF: Nirmala Sitharaman
NDTV
Nirmala Sitharaman said that in the past six years since 2016-17, the Kerala government has far exceeded its permitted borrowing limit of 3 per cent and has resorted to extra-budgetary borrowing to the tune of over Rs 42,000 crore.
Union Finance Minister Nirmala Sitharaman on Thursday said that, according to the Reserve Bank of India, Kerala is one of the top five financially-stressed states in India, and alleged that this was due to the poor governance of successive UDF and LDF governments in the state.
The union finance minister claimed that there has been "continuous" poor fiscal management by both the CPI(M)-led Left Democratic Front (LDF) and the Congress-led United Democratic Front (UDF) -- either of whom were always in power in the state.
She also said that in the past six years since 2016-17, the Kerala government has far exceeded its permitted borrowing limit of 3 per cent and has resorted to extra-budgetary borrowing to the tune of over Rs 42,000 crore.
