The newly-formed United Democratic Front (UDF) government in Kerala constituted a special expert committee on Tuesday to prepare a comprehensive White Paper on the state’s financial position.
Former Cabinet Secretary Dr. K. M. Chandrasekharan is the chairman of the committee and Finance Department Additional Chief Secretary K. R. Jyothilal is the convener. Economist and former Director of the Gulati Institute of Finance and Taxation D. Narayana and Professor and Director of the Centre for Development Studies C. Veeramani are the members in the committee.
The decision was taken at a meeting of top officials of the Finance Department chaired by Chief Minister VD Satheesan. The committee will evaluate the state’s true financial health, identify deep fiscal strains, and formulate corrective measures to guide future policy decisions and economic roadmaps.
The UDF has frequently alleged that the previous Left Democratic Front (LDF) administration significantly mismanaged the state’s budget and generated unsustainable public debt.
The primary aim of the expert panel is to reveal the “dire” state of Kerala’s economy following a decade of rule by the previous Left Democratic Front (LDF) administration. By making these findings public, the new UDF government intends to set a transparent fiscal baseline for their tenure.
The UDF government took office with significant, high-cost welfare promises. The White Paper will serve as a feasibility study to figure out how to fund their “Five-Point Indira Guarantee”, which includes KSRTC free travel for women,welfare hikes etc.