CAG flags ‘variation’ of ₹12,669 crore in Kerala’s KIIFB, KSSPL off-Budget borrowings for 2024-25
The Comptroller and Auditor General (CAG) has identified a significant discrepancy of ₹12,669 crore in off-Budget borrowings by Kerala's KIIFB and KSSPL for the 2024-25 fiscal year. The report criticizes the state government for failing to accurately disclose these borrowings to the Union government.
Why it matters
This raises serious concerns regarding fiscal transparency and the management of state debt, potentially impacting the state's ability to secure future market loans.
The Comptroller and Auditor General (CAG) has flagged a ‘variation’ of ₹12,669.92 crore in the off-Budget borrowings made by the Kerala Infrastructure Investment Fund Board (KIIFB) and the Kerala Social Security Pension Ltd (KSSPL) for the 2024-25 fiscal.
The report objectively summarizes the findings of a government audit body, presenting both the audit's claims and the context of the state's political transition.
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