Thiruvananthapuram :Finance Minister KN Balagopal marked his protest against Centre’s huge cut in borrowing limits of Kerala,. Responding to the ill-meant move, the Minister said the Centre aims to stifle Kerala using all means. Downsizing borrowings is challenge to people of Kerala and that we must all protest against it unitedly, the minister said.
For a while now that Centre has been denying grants and borrowings to Kerala. At beginning of the financial year, the Centre permitted Kerala borrowings of up to Rs 32,442 crores for the ongoing year. Now that has been sliced to Rs .5,390 crore. This is apart from cutting down grants to the tune of Rs 10,000 crores.
There is political motive behind this, one that aims to obstruct development happening in Kerala and welfare benefits to people in the State. Putting aside political differences, we must all come together to protest against this, the Minister said.