NEW DELHI: The Kerala and central governments have expressed their willingness to hold talks with each other to resolve the dispute over the Centre's decision to slash Kerala's borrowing limit. Appreciating both governments for being ready to hold talks, the Supreme Court pointed out that this action is the crowning example of cooperative federalism. The Supreme Court directed both parties to announce the decision taken in the discussion on Monday afternoon.

Earlier in the day, the apex court had asked both governments whether they couldn't settle the dispute by holding talks. Kerala replied that it is ready to hold talks with the Centre. The Supreme Court directed the Kerala Finance Minister and the Union Finance Secretary to hold a discussion. In the afternoon, the Centre too informed the court that it was ready to hold talks with Kerala.