Representative Image I Photo: Mathrubhumi
Thiruvananthapuram: Kerala Infrastructure Investment Fund (KIIFB) has given administrative approval to projects worth Rs 73,908 crores, revealed Kerala Governor during his policy address on Monday. However, he noted that only projects worth Rs 6201 crores has been completed so far in the state. It is worth noting that out of the 993 projects sanctioned, only 120 have been completed by the government. The delay in tender proceedings has hindered the completion of the projects.
Earlier, the union government had included loans taken by KIIFB in the state's overall borrowing limit. With this, KIIFB is unable to take loan on its own. The policy statement also criticizes that the union government's decision could hamper the state's development priorities.
Apart from the financial assistance from the state government, KIIFB has also taken a loan of Rs 19,197 crore so far. Government sources reveal that the state utilised Rs 22,600 crore till December 31 last year. Besides this, KIIFB also allocated Rs 20,000 crore for land acquisitions in various projects.
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