Kerala not moving towards debt trap, says Finance Minister

June 22, 2022 01:04 am | Updated 01:04 am IST - KANNUR

Finance Minister K.N. Balagopal said Kerala was not moving towards debt trap.

Inaugurating the Pazhayangadi sub treasury building at Eripuram, he said government spending had increased over the past two to three years.

During the pandemic, there were food kits, medicines, and hospital expenses. Two packages worth ₹20,000 crore were implemented. A package of ₹5,800 crore was implemented for traders and retailers, he said. “It is because of such interventions that there were no starvation deaths in Kerala during the pandemic. This is administrative excellence, and the government will continue to spend more money on such initiatives,” the Minister said.

He added that necessary funds were also being set apart for infrastructure development. Funds are being released for the modernisation of roads, hospitals, and schools.

The Minister said the government would go ahead with new projects. Treasuries are on the path of modernisation.

The state-of-the-art Pazhayangadi sub treasury building was constructed at a cost of ₹2.43 crore. The 4,150 sq. m. two-storey building will have a single window system, token system, generator system, surveillance cameras, recording room, spontaneous room, dining hall, and open conference hall. The sub treasury has around 5,000 customers, including 1,484 pensioners.

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