Thomas Isaac

Thomas Isaac not cooperating with probe in KIIFB Masala Bonds case: ED

The Enforcement Directorate (ED) has said that former state Finance Minister T M Thomas Isaac was not cooperating with the probe into the financial transactions of the Kerala Infrastructure Investment Fund Board (KIIFB). In an affidavit submitted by the ED before the Kerala High Court on Saturday, the agency said Isaac was making baseless allegations against the agency. It said Isaac was trying to stay away from the probe and stall the investigation. The ED is probing the issuance of Masala Bonds by KIIFB which had later informed the court that permission for the issuance of the financial instruments were obtained from the Reserve Bank of India. The probe agency had earlier issued multiple notices summoning Isaac to appear before it. Isaac had also moved the High Court against the ED. It said Isaac was trying to stay away from the investigation, making baseless allegations against the ED and was trying to flee from the jurisdiction of the central agency and stall the probe. The E

Masala bonds: Former FM Thomas Issac running away from probe, says ED

The Enforcement Directorate, investigating the Masala bonds case involving former Kerala Finance Minister Thomas Isaac, on Saturday told the High Court that he is running away from the probe.

Masala bonds: ED tightens noose around ex-Kerala FM Thomas Isaac

Considered a brainchild of the then finance minister, masala bonds have backfired against the Pinarayi Vijayan government

KIIFB scam: ED political tool for BJP, will not appear, says Isaac

Thomas Isaac refused to appear before the ED in connection with the Kerala Infrastructure Investment Fund Board scam, saying that ED was a political tool to target political rivals

Isaac urges ED to recall summons on KIIFB transactions; not to join probe

Senior CPI(M) leader Thomas Isaac, who was asked to appear before the ED on Thursday in connection with the KIIFB transactions, has asked the probe agency to recall the summons sent to him, alleging its "roving enquiry" into the matter was against the spirit of the the Supreme Court orders. The former Kerala Finance Minister said he has filed a writ petition in the Kerala High Court seeking to restrain the Enforcement Directorate (ED) from "enforcing" his personal appearance before them for "an offence that they are not willing to divulge." "ED served me 2nd summons under FEMA for personal appearance. The roving enquiry going on against KIIFB for the last 2 years is against the spirit of orders of the SC. I have asked them to recall the summons or clarify the offence against me or KIIFB", Isaac said in a tweet Wednesday night. He alleged "such a fishing & roving enquiry" into the activities of Kerala Infrastructure Investment Fund Board (KIIFB) is "contrary to the spirit of ...

ED issues notice to ex-Kerala FM Isaac for violations in KIIFB dealings

ED has served notice to senior CPI(M) leader Thomas Isaac seeking his appearance before it in connection with its probe into alleged violations in the financial dealings of KIIFB

P C Chacko quits Cong ahead of Kerala Assembly polls; Isaac dropped

Chacko, who was a former working committee member of the Congress, is the second senior leader to quit the national party after Jyotiraditya Scindia.

Kerala FM slams Centre over farm laws, hikes MSP for paddy in budget

Kerala Finance Minister Thomas Isaac began the presentation of the budget by criticising the Centre over farm laws, stating that the Centre is pursuing "neo-liberal policies and is helping corporates in the name of reforms".Presenting the final budget of the Left Democratic Front (LDF) ahead of the upcoming assembly polls, Isaac hiked Minimum Support Price (MSP) for rubber to Rs 170, paddy to Rs 28 and coconut to Rs 31, which is other than the MSP declared earlier for 16 crops that include vegetables and fruits.The Minister started his speech with a poem written by Class 7 student -- Sneha from Palakkad on combating COVID-19 situation.Starting with welfare schemes, Isaac announced a surge in the welfare pension to Rs 1,600 and promised 8 lakh new jobs. He also promised 20 lakh jobs creation in digital platforms within 5 years.Despite the ongoing troubles with the Comptroller and Auditor General (C & AG) related to the Kerala Infrastructure Investment Fund Board, the Minister ...

Kerala suffered Rs 1.56 trn revenue loss due to pandemic: FinMin Isaac

Kerala has suffered a revenue loss of Rs 1.56 trillion due to the Covid-19 pandemic and subsequent lockdown, state Finance Minister T M Thomas Isaac said on Thursday.

Thomas Isaac: A federal socialist who puts his money where his mouth is

Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives

Willing to compromise on GST compensation: Kerala FM Thomas Isaac

FM Isaac said the Centre must do away with the bifurcation of revenue shortfall arising due to Covid-19 and GST implementation.

Vote on GST compensation inevitable if govt sticks to 2 options, says Isaac

Centre will have to get support of some non-BJP-ruled states to pass its decision even in case of vote

Oppn-ruled states dismiss Centre's 2 options on GST compensation shortfall

Meet today to outline strategy on compensation

FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac

In an interview with Dilasha Seth, Kerala Finance Minister Thomas Isaac says if the issue isn't settled, states will have to move Supreme Court

Airport privatisation will expand potential, attract investors: Tharoor

The congress MP had faced flak not only from the Left parties but even from his own party for his stand favouring privatisation of the Trivandrum airport

Covid-19 crisis: States divided on alternative GST compensation mechanism

While Punjab and Kerala will press the GST Council to borrow in order to compensate states, Bihar Deputy Chief Minister Sushil Kumar Modi called the idea "wishful thinking"

Centre should give guarantee for GST Council borrowing: Kerala FM

We are expecting a 15% decline in the state GDP in FY 21, said Issac Thomas

Revenue and compensation on table at GST Council meeting on Friday

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

Kerala to cut spending to address coronavirus crisis: Thomas Isaac

The state government has set up a committee headed by Sunil Mani, director of the Centre For Development Studies, to assess the fiscal situation, and has sought a report in a month's time

RBI raises limit on ways and means advances, but states aren't impressed

Ways and means advances (WMAs) are short-term advances the central bank gives to help states tide over temporary mismatches in their cash flow.