Kerala facing 'unprecedented financial crisis': Finance Minister K N Balagopal
Thiruvananthapuram: K N Balagopal, Kerala Finance Minister, said on Tuesday that the state is struggling to overcome an unexpected financial crisis that was caused by multiple reasons, but had developed plans to do so successfully.
The crisis in Kerala was the outcome of recurring natural disasters, the pandemic, distorted policies of the Centre, the implementation of GST without much contemplation, the delayed distribution of GST compensation and the imposition of cuts in the borrowing limit of the state by the Central government, among other reasons, he said.
Balagopal clarified while answering a question during the Question Hour of the Assembly that the Left government in Kerala had well-laid out plans to fight the problem and would implement the plans, The Economic Times has reported.
The government had been trying to strengthen the tax system, implement a strict financial discipline, avoid unwanted expenses and keep expenses to a minimum, to fight the situation, the minister added.
He said that the current financial year had witnessed a dip of Rs 6,716 crore in the revenue deficit grant (released to the state by the Centre), as against the previous financial year.
When asked if the wrong financial management by the state was found to be the reason for the crisis, however, Balagopal replied in the negative.
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Anna University student suicide case: Five held
Tiruchirappalli (PTI): Five people have been arrested in connection with the death of the Anna University student, who jumped in front of a speeding train in Pudukottai district, police said on Tuesday.
The deceased, a third-year student from Virudhunagar district, was found dead on the railway track near Mandaiyur on the night of September 20 by the railway police, who later recovered a suicide note from his hostel room.
The student had, in the letter, alleged sexual assault, blackmail, and extortion by five men.
Following this, the police arrested the five suspects. A case has been registered, and further investigation is on.
