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CPM Criticizes Central Govt for Slashing Kerala’s Borrowing Limit; Calls for Protest Against “Fiscal Ban”


The Communist Party of India (Marxist) has strongly criticized the union government’s decision to cut down Kerala’s borrowing limit by half, describing it as an “attempt to suffocate the state” through any means possible. The CPM state secretariat accused the BJP-led Centre of consistently undermining Kerala’s development initiatives by interfering in its financial affairs.

In a statement, the secretariat called upon civil society organizations to join in protesting against the “fiscal ban” imposed on Kerala. According to the Left party, the central government initially granted permission for Kerala to borrow Rs 32,442 crore, but that limit has now been reduced to Rs 15,390 crore.

Kerala Finance Minister K N Balagopal stated that the central government’s decision to limit borrowing to Rs 15,390 crore, half of what Kerala is entitled to borrow, has been implemented without any explanation. The CPM expressed frustration, noting that the Union government has not even accepted the legislation on fiscal responsibilities.

Highlighting years of alleged harassment by the Centre, the CPM stated that the NDA government has consistently disregarded the Constitution and democratic values. Despite financial constraints caused by the Union government’s policies, the CPM emphasized that the state government has continued to implement welfare measures for the people of Kerala, aiming to hinder the state’s development and growth.

The call for protest against the fiscal ban seeks to draw attention to Kerala’s grievances and demand a reconsideration of the central government’s decision.


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