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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Bringing out white paper is like seeking anticipatory bail: ISSAC

Kochi, May 19 : Welcoming the new Kerala Finance Minister K M Mani's decision to bring out a white paper on the financial position of the state, his predecessor and senior CPI(M) leader Thomas Issac today alleged that ''this was like seeking anticipatory bail'' before an imminent financial crisis in the state.

Talking to reporters here, he said before issuing a white paper, the people must be told how much money there was in the state treasury when the LDF government handed over the administration to them.

There was Rs 2,000 crore in the state treasury and the newly formed UDF government need not take any loan upto June. The state will receive another Rs 3,000 crore through various taxes.

Claiming that the previous government had not availed the permissible amount of loan by the Centre, the former finance minister said during the past three years, there had not been any over draft.

Pointing out that the LDF government had spent about 53 per cent more than what the UDF government had in their previous term, he said the allegations by the UDF that it was because of the LDF government?s failure to spend that such a huge surplus amount was found in the state treasury was baseless.

Admitting that the new government had the right to alter the budget presented by him, he, however, warned that if the UDF government makes any changes in the welfare measures announced in the budget, they would have to face public wrath.

"They have the right to make alterations, but they should not be in the welfare measures introduced by the LDF government," he added.

--UNI

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