No financial crisis in Kerala, says Oommen Chandy

Sep 14, 2011 |

Thiruvananthapuram

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Kerala Chief Minister Oommen Chandy on Wednesday rejected reports that the state was facing a financial crisis and said the government is in the process of increasing revenue collection and reducing expenses.

Asked for his reaction to reports that the state has borrowed Rs 2,000 crore from the open market, he told reporters during his cabinet briefing that there was nothing unusual in it.

"The state took only the eligible credit limit sanctioned by the Centre," Chandy said.

"The government while trying to increase revenue collection is also reducing expenses other than on development and welfare schemes," he said.

Chandy said he would leave for Delhi on September 22-23 to take up with the Centre pending development projects and various issues connected with the state.

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