Moves to break KIIFB won't succeed: KN Balagopal

TRIVANDRUM: Finance minister KN Balagopal came today to lend big words of support to the Kerala Infrastructure Investment Fund Board (KIIFB). “Any motives to break KIIFB won't bear fruit, KIIFB has only upped the economic prosperity in the state”, defended KN Balagopal.

The Centre’s decision to consider the guarantee provided to the Kerala Infrastructure Investment Fund Board (KIIFB) and Kerala Social Security Pension Ltd (KSSPL) as state debt is a denial of Rs 12,500 crore as a loan which is a rightful share of the state. This has turned a double jolt to the state which is overcoming the Covid crisis as there is a decline of Rs 24,000 crore in the state's total revenue in this fiscal, the Chief minister said.

The minister accused the central government of going against the KIIFB and capping down the loan ceiling of the state. Whatever the hindrance, KIIFB will have a smooth run, Balagopal insisted. The 1 lakh Crore worth national highway project too will see the involvement of KIIFb, Balagopal asserted.