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Homechevron_rightKeralachevron_rightCPI(M) charges that...

CPI(M) charges that Centre trying to suffocate Kerala with "fiscal ban"

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CPI(M) charges that Centre trying to suffocate Kerala with fiscal ban
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Thiruvananthapuram: The Kerala borrowing limit was reduced by half, according to the Union government, which the ruling CPI(M) described as an "attempt to suffocate the state" by whatever means possible.

According to the CPI(M) state secretariat, Kerala's development initiatives have been undermined by the BJP-led Centre interfering in its financial affairs.

The secretariat also urged civil society organisations to raise protests against the "fiscal ban" imposed on Kerala.

The Left party said the Union government had earlier given the permission to borrow Rs 32,442 crore but the borrowing limit has now been reduced to Rs 15,390 crore.

Kerala Finance Minister K N Balagopal had on Friday said the central government has put the borrowing limit to Rs 15,390 crore, which is half of what Kerala is entitled to borrow.

"The Union government does not even accept the legislation on fiscal responsibilities. They have not yet revealed the reason behind the slashing of the borrowing limit," the statement said.

The CPI(M) said that for the past seven years, the Centre has been conducting "research on" methods to harass the Kerala government.

The BJP-led government at the Centre has refused to honour the Constitution or democratic values, it said.

"The state government has been implementing welfare measures for the people of Kerala despite the financial crunches caused due to the policies of the Union government. They wanted to hamper the development and growth of the state," the party said.


With PTI inputs

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TAGS:Keralacentral govtFiscal ban
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