THIRUVANANTHAPURAM: Finance minister K N Balagopal is neither outspoken, nor flamboyant like his predecessor T M Thomas Isaac. His reticence and limited administrative experience make the new responsibility more onerous for him.
One thing that both opposition and government agree in Kerala is the perilous state of the economy. What remains absent is the political forthrightness to address the issue in its essence and gravity. “It's no secret that the state's financial position is in dire straits. As per the latest figures released by CAG, our fiscal deficit is Rs 44,313 crore till January 2022. The figures for the last 11 months tell that 34 % of our expenditure during the period was met through borrowings. We live on borrowed money,” explains state public expenditure review committee former chairperson B A Prakash.
