White paper on Kerala's finances soon: Mani

Kottayam, May 19:Kerala Finance Minister K M Mani said here today he would soon present a white paper on the actual financial position of the state, before the public.

Mr Mani, who took charge as finance minister of the state after a gap of 25 years was addressing a Meet-the-Press programme of the Kottayam Press Club.

The financial situation was very bad. Whether there was money in the treasury was not the problem.

The previous LDF Government had created enormous liabilities for the present UDF Government. With Rs 78,000 crore in debt, Kerala's financial position was alarming.

The white paper would reveal the actual situation.

An alternative budget would be presented during the next session of the Assembly in order to implement the commitments of the UDF.

The first decision of the UDF Government to forego tax on the recently higher price of petrol was a proof of the UDF Government's social commitment, he said.

Mr Mani said he wanted to integrate Kerala's economy with the global economy.

To ensure the welfare of the people, the UDF Government would introduce schemes for the rapid development of the State, Mr Mani said.

Earlier, a warm reception was given to Mr. Mani when the reached the Kerala Congress Headquarters here after taking charge as Finance Minister of the State.

--UNI

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