Balagopal Challenges Satheesan's Financial Claims with New White Paper Insights
White Paper punctured Satheesan's earlier claims: Balagopal
Image: The Times Of India
Former finance minister K N Balagopal criticized Chief Minister V D Satheesan's claims regarding Kerala's financial liabilities, asserting that a newly released White Paper indicates the state's liabilities are only ₹5 lakh crore, not over ₹6 lakh crore as claimed. Balagopal also highlighted issues with the UDF government's handling of financial reporting.
- 01The White Paper revealed Kerala's liabilities are ₹5 lakh crore, contradicting Satheesan's claim of over ₹6 lakh crore.
- 02Balagopal noted that the anticipated revenue deficit grant of ₹14,000 crore was justified due to the Centre's ambiguous stance.
- 03He criticized the UDF government for not addressing the causes of financial difficulties in the White Paper.
- 04Balagopal condemned the use of an external committee to prepare the White Paper, calling it a breach of financial protocol.
- 05Former finance minister T M Thomas Isaac defended the borrowings by the Pinarayi government, attributing financial issues to the Centre's inadequate support.
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In a recent press conference, former finance minister K N Balagopal contested the claims made by Chief Minister V D Satheesan regarding Kerala's financial liabilities. The newly released White Paper by the United Democratic Front (UDF) government indicates that the state's liabilities stand at ₹5 lakh crore, contrary to Satheesan's assertion of over ₹6 lakh crore. Balagopal emphasized that the anticipated revenue deficit grant of ₹14,000 crore was warranted, given the Centre's lack of a definitive rejection on extending this grant. He criticized the UDF government for failing to explain the reasons behind the state's financial challenges, pointing out that tax revenue and central grants have significantly decreased. Furthermore, Balagopal expressed concern over the government's decision to employ an external committee for the White Paper's preparation, suggesting it undermines the confidentiality of government accounts. Supporting Balagopal's views, former finance minister T M Thomas Isaac defended the financial strategies of the Pinarayi government, attributing the state's fiscal issues to the Centre's inadequate financial support compared to other states.
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The financial revelations in the White Paper could influence public perception of the state's fiscal management and accountability.
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