Government of Kerala to petition PM on central-state financial issues.
The Kerala government has decided to petition the Prime Minister for serious problems with central and public finances.
The choice changed made at a central authority assembly on Wednesday. Petition documents address important central and state fiscal issues.
Restoration of borrowing limits by 2017.
According to a press release from the Office of the CM (CMO), the provinces are planning to reinstate borrowing limits for the provinces as they were before the central government in 2017.
Since the problem facing the state is against federal law, it will be presented to the prime minister through a petition.
According to the CMO statement, in 2017, the central government decided to include the amount accumulated in the public account as national public debt when calculating the country’s own borrowing limit in accordance with Article 293, Paragraph 3 of the Constitution.
According to the statement, loans received from the state based on state guarantees are not a direct obligation of the state.
Depending on the country, it can only be prosecuted. All state government debt is now included in the central government’s public debt.
However, this does not apply to loans taken from central government public sector companies and many similar institutions.
According to an OKU press release, this conduct violates federal principles and hinders the progress of the state.
In this context, the provincial government asked the central government to consider its decision to set a provincial borrowing limit and restore the situation by 2017.
Kerala Assembly Session: Kerala Assembly session will start on January 23, budget is expected to be presented.
Kerala Assembly Session: The eighth session of the 15th Kerala Legislative Assembly will begin on January 23.
A special cabinet headed by Chief Minister Pinarayi Vijayan decided to recommend Governor Arif Mohammed Khan to convene the session from January 23, a statement from the CMO said on Thursday.
Government can present the budget.
The statement said a ministerial sub-committee has been tasked with preparing the draft policy address of the governor.
The government is likely to present its budget for the next financial year during the upcoming session.