In order to pull the infra segment out of the prevailing recessionary tendencies, the Kerala state government has set aside a staggering sum of Rs.50,000-cr for building infra projects across segments. To ensure sufficient fund flow to the sector, Kerala Infrastructure Investment Fund Board (KIIFB) Bill will equip the board to float bonds and mobilize money from various countrywide financial agencies. In the first phase, the state expects to mobilise Rs.20,000cr, said the concerned minister, adding that out of the targeted funds, Nabard has promised Rs.5,000cr. Though Kerala is currently a revenue-deficit state in the past six financial years, it will emerge a revenue-surplus state in the near future. The Bill mandates that administrative panel headed by the Chief Minister and the executive panel controlled by the state finance minister will spearhead the functioning of KIIFB and expedite to speed-up the planned infrastructure projects.
📅Published on:
06 November 2016
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