Vijayan slams KSRTC MD not to issue public comments on corporation
By IANS |
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Mon, Jan 18 2021 13:51 IST |
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Mumbai: Kerala Chief Minister Pinarayi Vijayan ats Mumbai Collective , in Mumbai on Feb 2, 2020. . Image Source: IANS News
Thiruvananthapuram, Jan 18 : Chief Minister Pinarayi Vijayan has come down heavily on Managing Director of Kerala State Road Transport Corporation, Biju Prabhakar, and asked him not to issue public statements against officials and employees arbitrarily.
The IAS officer at the KSRTC helm will be meeting the trade union representatives on Monday and brief the Chief Minister after the meeting on the developments, sources in KSRTC told IANS.
CAG report slams Kerala govt over KIIFB Masala Bonds
By IANS |
Published on
Mon, Jan 18 2021 13:33 IST |
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Thomas Issac.. Image Source: IANS News
Thiruvananthapuram, Jan 18 : The Comptroller and Auditor General (CAG) report which was tabled in the Kerala Assembly on Monday is highly critical of the Kerala Infrastructure Investment Fund Board (KIIFB) and the international funding it received through Masala Bonds .
The CAG in its report said that foreign funding can be accepted only by the central government and the special permission granted by the Reserve Bank of India for this collection has to be reviewed.
The CAG report said that the KIIFB is acting as a centre beyond the Kerala budget and added that this is against the Constitution of the country. It also stated in the report that the state government had deliberately entered into the domain of the central government and it is unacceptable. The report also pointed out that if all state governm
Updated Jan 18, 2021 | 23:43 IST
A three and a quarter page of the CAG report is highly critical of the KIIFB borrowings and terms it unconstitutional. For the first time, the report was tabled along with the minister’s damning observations. Thomas Issac (File Photo) | Photo Credit: ANI
Key Highlights
The borrowings are not taken into the disclosure statements in the budget documents or in the accounts, the CAG has noted.
KIIFB has raised funds amounting to Rs 3016.57 crore from financial institutions till 2018 by issue of bonds which were to be repaid from petroleum cess and motor vehicle tax.
An amount of Rs 2,150 crore raised through masala bonds in foreign countries is part of the Rs 3016.57 crore off-budget borrowings.
KSRTC to go ahead with SWIFT formation
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‘New firm essential for getting KIIFB funding’
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The KSRTC-SWIFT will operate the new buses that will be procured with ₹359 crore from the KIIFB.
‘New firm essential for getting KIIFB funding’
The Kerala State Road Transport Corporation (KSRTC) will go ahead with forming KSRTC-SWIFT, a legally independent company, for operating long-distance buses despite opposition from trade unions and apprehensions raised by employees.
The stance of the KSRTC management assumes significance even as KSRTC Chairman and Managing Director (CMD) Biju Prabhakar is meeting employees of the State transport undertaking on Monday to take them along while taking forward the initiatives under Restructure 2.0.
Modern computation lab to boost interdisciplinary research being set up
A high-power computation lab that will boost interdisciplinary research and learning will be set up at the Cochin University of Science and Technology (Cusat) as part of enhancement of academic and infra facilities using the ₹249-crore assistance granted under the Kerala Infrastructure Investment Fund Board (KIIFB).
The lab is expected to promote collaboration among the various departments in niche and cutting-edge areas of study. “We are hoping that the facility will be a major boost to the ongoing efforts to step up research in areas like Artificial Intelligence, Machine Learning etc.,” said K.N. Madhusoodanan, Vice Chancellor. The ₹249-crore plan had found mention in the budget speech by Finance Minister Dr. T.M. Thomas Isaac on Friday.