Kerala Finance Minister K N Balagopal on Saturday said that despite a fiscal pressure, the state government made payments to the tune of Rs 26,000 crore to various sectors in March alone.
He said the state government effectively intervened to manage the financial crisis and an interim application on the borrowing limit and other matters are pending before the Supreme Court.
Balagopal added that the apex court recently ruled in the state’s favour as there was substance in its arguments regarding the financial strangulation.
The apex court was hearing a suit filed by the Kerala government that alleged that the Union of India was regulating the state’s finances through its “exclusive, autonomous and plenary powers” by imposing a ceiling on borrowing.
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First Published: Mar 31 2024 | 7:07 AM IST
