KIIFB has plunged Keralam into severe financial crisis, says Keralam Chief Minister VD. Satheesan

Chief Minister V.D. Satheesan.

Referring to the findings of an expert committee headed by former Planning Commission Member Secretary Sudha Pillai, Chief Minister V.D. Satheesan on Thursday said the Kerala Infrastructure Investment Fund Board (KIIFB) had plunged the State into a severe financial crisis.

He was speaking to the media after tabling the 96-page ‘Report of the committee on a comprehensive review of KIIFB’ in the Assembly.

The government would examine the contents of the report and consider ordering an investigation, he said. “We will go through it in detail and take action on it,” he said, adding that the panel had found serious irregularities as well as deviations from Constitutional provisions, Rules of Business of the government, and provisions of the Fiscal Responsibility and Budget Management (FRBM) Act.