Financial Daily from THE HINDU group of publications
Tuesday, May 09, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 09, 2006 |
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Industry & Economy
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Economy States - Kerala Kerala's finances in good shape, says Minister Our Bureau
Thiruvananthapuram , May 8 The financial position of Kerala is healthy with the exchequer having a surplus of Rs 201.46 crore as on May 6, according to the Finance Minister, Mr Vakkom Purushothaman. He said here on Monday that there was no ways and means advances or overdraft pending with the Reserve Bank. The surplus was at Rs 146.72 crore as on March 31, 2006. Explaining the achievements of the UDF Government, he said when the Government assumed office in 2001, there was overdraft of Rs 358.75 crore and ways and means advances of Rs 226.62 crore. Last year, the Government did not draw any overdraft, the Minister said. He said the State's public debt stood at Rs 45,024 crore at the end of the last fiscal and the Opposition's stand that it was Rs 60,000 crore was exaggerated. In fact, the UDF Government was able to bring down the growth of public debt. He pointed out that the Government had to borrow funds, as it could not meet the development needs of the State with the revenue alone. Mr Purushothaman also did not agree with the charge that the Government did not pay the dues to contractors. It had paid Rs 2,105 crore to the contractors as arrears, while the previous LDF government paid only Rs 1,700 crore to them. He also said since last July, the Government had been paying pension, unemployment allowance and other assistances regularly.
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