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Homechevron_rightKeralachevron_rightFinancial condition...

Financial condition very bad: Minister

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Financial condition very bad: Minister
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Thiruvananthapuram: State Minister for Culture and Cinema A.K. Balan on Wednesday made no bones about the fact that the state's finances are in bad shape, echoing the fears that have been raised over and over by the Congress-led Opposition.

The minister said that the state's finances have never been so bad as they are today.

"We have to receive about Rs 3,200 crore from the Centre, by the GST way. The current financial position of the state is appallingly poor. Never before has the state passed through such a situation. The stage has come that it's become difficult to pay even salaries," said Balan.

The Congress-led opposition has been targeting Chief Minister Pinarayi Vijayan for his extravagance and frequent foreign jaunts and also blamed State Finance Minister Thomas Issac for poor fiscal management for the financial position to have become so tight.

The public debt of the state since Vijayan assumed office in 2016 has shot up by Rs one lakh crore to touch Rs 2.50 lakh crore as on date.

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