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“Rs 5,000 crore will not take us anywhere, we need at least Rs 10,000 crore. They are saying this on the assumption that the suit is liable to be dismissed,” Senior advocate Kapil Sibal, appearing for the ruling LDF government, said. ....
The Centre has accused Kerala of negatively impacting India's credit rating due to its state debt. The government warned that any state defaulting on debt servicing could create reputation issues and a domino effect, threatening India's financial stability. ....
Siddaramaiah has alleged step-motherly treatment meted out to them by the Centre in terms of distribution of tax revenues in the Interim Budget, and has called for a protest in New Delhi on February 7. Kerala finance minister too said the state lost tens of thousands of crores due to the decreasing share of the divisible pool of tax collected by the Centre ....
Kerala's Financial Stability in Question: Federalism Weakens as Experts Weigh In Explore the impact of federalism on Kerala's financial distress, as the state grapples with restrictions on borrowing and dwindling grants from the Union government. Delve into the state's efforts to prioritize welfare spending amidst the crisis and its legal battle with the Union government, shedding light on the implications for the state's fiscal stability. ....
Even when the overall picture of Kerala s finances was never rosy, it took a severe blow like the rest of the world with the Covid pandemic, leaving the cash crunched state in an even piquant position. ....