Kerala Finance Minister Hits Out at CAG for Faulting States Infra Investment Fund Board


    Kerala Financing Minister Strikes Out at CAG for Faulting States Infra Investment Fund Board

    Kerala Finance Minister Thomas Isaac on Saturday lashed out at the CAG for its “findings” in its draft report that Kerala Infrastructure Investment Fund Board (KIIFB) was raising loans “unconstitutionally.” Dismissing the findings, Isaac told press reporters here that the state federal government will not permit the Comptroller and Audit General (CAG) to damage KIIFB, the primary firm of the state government for funding large and important facilities jobs in the state, “They (CAG) claim that the KIIFB loans are unconstitutional. Given That 1999, CAG had audited KIIFB 9 times and prepared the audit report. This allegation was not raised anytime prior to this.

    The Indian Constitution is not a book which can be interpreted by anybody, selected as CAG, according to his political leanings,” Isaac informed reporters here. The CAG auditing for this year started in January and all the documents looked for were sent, he said, adding 76 audit inquiries were raised by the AG’s office and in-depth replies were offered.

    Explaining that KIIFB was a corporate body and like any other such institutions, he said it can raise loans based on the existing rules. Business bodies of the central federal government have likewise availed such loans, he claimed.

    The CAG observation that KIIFB breaches Post 293( 1) of the Indian Constitution was baseless, he stated. The Article handle loans of the state federal government.

    The state federal government requires the authorization of the centre for taking loans. However in this case, it’s a business body that is taking the loan and not the state government, the minister stated. Isaac also hit out at the Enforcement Directorate (ED) for bringing under its scanner various prominent jobs of the left federal government like Life Mission, K-FON, e-Mobility.

    On the other hand, leader of Opposition in the state assembly Ramesh Chennithala attacked Isaac for making public details of the draft CAG report prior to it was tabled in the assembly. Noting that the findings of a CAG report is available in the public domain only after it is tabled in your house, he alleged that this was the very first time a minister had released details of a CAG report concerning his ministry through an interview before its tabling.

    Implicating Isaac of breaching guidelines of the legislature, Chennithala said he will move breach of advantage notice versus the minister.


    ( the headline, this story has not been released by Important India News staff and is released from a syndicated feed.).


    Please enter your comment!
    Please enter your name here