The Kerala government will take up the matter of its reduced open market borrowing (OMB) limits with the Centre, Finance Minister K. N. Balagopal indicated on Tuesday, saying the State needs clarity on its borrowing space for the fiscal.
The contentious Central government decision setting the OMB at ₹15,390 crore (including ₹2,000 crore allowed in April) was discussed at a high-level meeting attended by Chief Minister Pinarayi Vijayan, Mr. Balagopal, Chief Secretary V. P. Joy and senior government officials on Tuesday.
Later, Mr. Balagopal told a press conference that the State needed a clarification on the Central government decision and and a detailed borrowing plan for the fiscal. The May 26 letter from the Centre on the OMB limit lacks clarity. Neither is it accompanied by a detailed statement showing the break-up for the first nine months (April-December) and for the entire fiscal which was provided in 2022-23, he said.
