Kerala's financial crisis artificially created by Centre, alleges state finance minister K N Balagopal

The Kerala government accused the Centre of undermining the country's federal structure, leading to a financial crisis in the state. Finance Minister Balagopal said that the Centre's treatment of funds raised by the Kerala Infrastructure Investment Fund Board (KIIFB) as part of Kerala's borrowing severely impacted resource mobilization initiatives. Despite challenges, KIIFB spent Rs 29,100 crore on projects, aiming for Rs 50,000 crore in total.