Kerala Assembly sees heated debate over CAG report

Kerala Assembly on Wednesday witnessed a heated debate over the Comptroller and Auditor General's report on Kerala Infrastructure Investment Fund Board (KIIFB). The opposition demanded the resignation of Finance Minister Thomas Isaac.

While the ruling CPM-led Left Democratic Front (LDF) alleged that the CAG report pointing out serious flaws in borrowing by the KIIFB was a conspiracy against the government, the opposition Congress-led United Democratic Front (UDF) backed the CAG's finding. An adjournment motion was allowed in the house over the CAG report that was tabled in the house on Monday.

Congress MLA V D Satheeshan alleged that Finance Minister Thomas Isaac was trying to mislead the house by stating the CAG termed KIIFB, an agency under the government, as unconstitutional. He backed the CAG's findings that KIIFB's fund mobilisation measure of issuing Masala bonds for external borrowing was against the Constitution.

The Opposition staged a walkout alleging that the government's explanation was not convincing.