CM asks NITI Aayog to intervene in Centre's action of slashing borrowing limit in the name of KIIFB loan

THIRUVANANTHAPURAM: In a meeting with NITI Aayog Vice Chairman Suman Kumar Berry, Kerala Chief Minister Pinarayi Vijayan asked the NITI Aayog to intervene in the slashing of loan limit in the name of the KIIFB loan. However, Suman Kumar Berry replied that there was a limitation for NITI Aayog in intervening in the matter as it was a policy matter of the central government. He said that interventions will be made from the level of the NITI Aayog.

The Chief Minister explained that large development projects were being implemented in the state through KIIFB. According to the CM, Kerala is one of the best states in the country in terms of background development. He said that Kerala was able to implement national highway development, GAIL pipeline etc. by using KIIFB loans. However, the Centre has been reducing the borrowing limit of the state since 2021 in the name of KIIFB loans. There are also obstacles to making the central allocation available to the state. This is causing a huge financial crisis, the CM said.

Finance Minister KN Balagopal, Chief Secretary Dr.V.Venu and others participated in the meeting held at the Chief Minister's conference hall.