Kerala government introduces Bill to mobilise funds outside Budget

By: | Published: September 26, 2016 11:22 PM

The bill, comprising a set of guidelines to revive and expand the operation of Kerala Infrastructure Investment Fund Board, was introduced by Finance Minister T M Thomas Isaac.

The government has plans to mobilise funds for 23 social and development sectors, said the State Finance Minister T M Thomas Issac. (Reuters Image)The government has plans to mobilise funds for 23 social and development sectors, said the State Finance Minister T M Thomas Issac. (Reuters Image)

CPI(M)-led LDF government today introduced in the state assembly the much-awaited Kerala Infrastructure Investment Fund (Amendment) Bill, which among other things envisages raising funds from outside the budget to boost investment and take up infrastructure projects.

The bill, comprising a set of guidelines to revive and expand the operation of Kerala Infrastructure Investment Fund Board, was introduced by Finance Minister T M Thomas Isaac.

It was referred for the consideration of subject–committee of the state Assembly later.

The government had recently amended the KIIFB Act through an ordinance and the present Bill was introduced without making any changes in its clauses.

During the discussion, Isaac said government would give administrative sanction for projects worth Rs 4,000 crore.

The government also has plans to mobilise funds for 23 social and development sectors, he said.

The minister also said more public works projects would be implemented in one year by the LDF government than the previous UDF government did in last five years.

He also claimed that there would also be a major change in the public education system in the state.

Meanwhile, Devaswom Minister Kadakampally Surendran introduced the Kerala Devaswom Recruitment Board (Amendment) Bill, which among other things aims at making appointment in Devaswom Boards through state-run Public Service Commission.

It was also referred for the consideration of subject committee.

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