With only one month to go in the current financial year, Finance Department officials are seemingly left scraping the bottom of the barrel to meet even routine expenses. The balance in the Kerala government treasury on Monday was reported to be around Rs.1,500 crore and Rs.1,000 crore was being raised by floating bonds.
Finance Department sources told The Hindu here that after meeting salary and pension commitments worth around Rs.1,300 crore for February within the next few days, the financial position would again become precarious.
Footing the bill of government contractors worth around Rs. 1,500 crore had become virtually impossible. The commitment to pay travelling allowance bills of legislators could not be honoured due to the acute funds crunch.
Requests seeking assistance from the Chief Minister’s Relief Fund for various sections could not be met during the past few months, the sources said. Complaints of delayed payment to government lottery prize winners had also been cited. The payments had been reported to be delayed on various grounds.
An immediate let-up in the current crisis seems impossible. Additional resource mobilisation efforts proposed by the government to avert the current crisis had not attained fruition so far, the sources said.