Addressing an awards function at Raj Bhavan, also attended by Governor Arif Mohammad Khan, Vijayan said any developmental work will not be stalled.
Days after the Comptroller and Auditor General (CAG) of India warned about the debt trap caused by off-budget borrowings by the Kerala Infrastructure Investment Fund Board (KIIFB), Chief Minister Pinarayi Vijayan on Tuesday said moves are on to discredit the agency.
Addressing an awards function at Raj Bhavan, also attended by Governor Arif Mohammad Khan, Vijayan said any developmental work will not be stalled. “There are moves to abolish and discredit the KIIFB. Persons with sadistic mentality, who feel relieved and contended if the state goes a step back, are behind such moves,” he said.
Justifying the off-budget borrowings of KIIFB, Vijayan said the economy of Kerala does not have abundant resources. “If sectors such as education are not strengthened for want of resources, it would be a crime towards the future generation. We cannot take up projects with budget allotments alone. For that, we have to tread a different path,” he said.
He said Kerala’s public education system got strengthened with funds from KIIFB. The assistance from KIIFB would be utilised for improving the higher education sector also, he said.
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