Kerala Fin Min criticises Sitharaman over her state Budget, KIIFB remarks

Reacting to Union Finance Minister Nirmala Sitharaman's comment over Kerala Budget and Kerala infrastructure investment fund board (KIIFB), state Finance Minister TM Thomas Issac on Sunday said she should have realized that the dignity of the position eroded when she delivers such speech without understanding.

Thomas Issac wrote a Facebook post after Sitharaman in Kochi alleged the Pinarayi Vijayan-led government in Kerala of giving all the budget money to KIIFB.

"Union Minister Nirmala Sitharaman should have realized that the dignity of the position she holds is being eroded when she automatically reads (without understanding) what someone has written. She was talking nonsense about KIIFB and the state budget. Not only did she not do her homework at all, but her remarks proved that she had no idea what was being said. The Union Minister should not regret for which I am saying openly that Shame on You," Issac wrote on Facebook.

State Finance Minister also described KIIFB and said it is a system set up to mobilize resources outside the budget.

"KIIFB is a system set up to mobilize resources outside the budget. The CAG's criticism was that KIIFB revenue and expenditure were not part of the budget. When the criticism reached Nirmala Sitharaman, that came to the fore. All I can say is that no matter who wrote this speech, the Union Finance Minister should not have been fooled like this. A quality and serious approach is expected from that position," he said.

Union Finance Minister yesterday lashed out at Kerala government over the state budget and accused it for giving all the budget money to KIIFB.

"Kerala budget was presented and all the money is given to KIIFB. I do not know what budget they are making if all the money is given to one organisation," the Finance Minister said during 'Vijaya Yathra' in Kochi.