State’s total debt is Rs 5.07 lakh crores; KSRTC, water authority top loss making PSUs 

THIRUVANANTHAPURAM: The white paper released by the UDF government has clarified that the state has a total debt of Rs 5.07 lakh crore. Salary and pension arrears alone amount to Rs 48,733 crore. The white paper also says that the crisis in the treasury is severe. The KIIFB liability is Rs 21,000 crore.

The accumulated losses of public sector undertakings have reached Rs 78,851 crore. The worst performing entities are KSRTC and Water Authority. 77 percent of the state’s revenue is spent on committed expenses. The white paper also says that there is insufficient money for day-to-day expenses. As of May 16, the treasury balance stood at Rs 2,211 crore.

When Chief Minister V D Satheesan tabled the white paper in the assembly, former finance minister K N Balagopal moved a dissent motion. The opposition alleged that the assembly's procedures were not followed and that the finance department should have prepared the white paper. The opposition claimed that the move amounted to a violation of oath of office.

However, the chief minister rejected the opposition's allegations. The chief minister replied that no procedures were violated and that the white paper was prepared under the leadership of the finance department. He said that no confidential document was handed over to anyone and that the people should know the fabricated myths. This is not a political document, but a basic document for the future of Kerala. How can you accuse it of being a political document before you see it, asked the chief minister.