No financial crisis in Kerala: Oomen Chandy

Last Updated: Wednesday, September 14, 2011 - 16:02

Thiruvananthapuram: Kerala Chief Minister
Oommen Chandy on Wednesday rejected reports that the state was facing
a financial crisis and said the government is in the process
of increasing revenue collection and reducing expenses.

Asked for his reaction to reports that the state has
borrowed Rs 2,000 crore from the open market, he told
reporters during his cabinet briefing that there was nothing
unusual in it.

"The state took only the eligible credit limit sanctioned
by the Centre," Chandy said.

"The government while trying to increase revenue
collection is also reducing expenses other than on development
and welfare schemes," he said.

Chandy said he would leave for Delhi on September 22-23 to
take up with the Centre pending development projects and
various issues connected with the state.

PTI



First Published: Wednesday, September 14, 2011 - 16:02

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