Revenue Deficit lowest ever in past ten years

Kannur, Jan 19 (UNI) Stating that the Revenue Deficit of the State was the lowest ever during the last ten years, Kerala Finance Minister T M Thomas Issac today said it would be wiped out by 2010.

Talking to reporters here, he claimed that the State was not under the grip of debts and when compared with the revenue the debts were very less.

Though the Government had a plan to apply for a loan for Rs 7,000 crore in the current year, due to the Fiscal Responsbility Act only Rs 4,800 crore would be granted, he said, and pointed out that it would be a hurdle to the development of the State.

There was no restriction on payments in the State treasury, the Minister added.

UNI AK-CGV GKT 1934