THIRUVANANTHAPURAM: Finance Minister TM Thomas Isaac on Tuesday said he was ready to face the consequences for disclosing the CAG report before it had been tabled in the assembly. Isaac said he will respond to the notice on breach of House privilege and inform Speaker P Sreeramakrishnan that he thought the report was in draft form at the time of its disclosure.
Coming down heavily on Opposition leader Ramesh Chennithala for spreading confusion in the wake of coming elections, the minister urged the former to have a proper understanding of issues — with particular reference to the alleged incomplete audit in local bodies — before resorting to criticism.
“The High Court has accepted the government’s contention that the audit was stopped due to software integration which is necessary for availing the Central fund allocated by the finance commission,” said Isaac.
The finance minister. who dismissed as baseless BJP state president K Surendran’s allegation that he had parked the ill-gotten money abroad, dared the Central agencies to probe the allegations. On the green bonds, the minister said the International Finance Corporation has taken permission from the Ministry of Finance(MoF) to provide funds to KIIFB. The aim is to raise Rs 1,100 crore as green bond or as loan.
“The fund will be utilised for development projects. The money raised in Indian Rupee within the country does not require the RBI nod and it should not be treated as foreign loan,” said Isaac. He cited the second phase of Kuttanad package, carbon neutral Wayanad, coastal protection and rehabilitation, green vehicles as some of the green projects to be funded with IFC loan.
green bonds
On the green bonds, the finance minister said the International Finance Corporation has taken permission from the Ministry of Finance(MoF) to provide funds to KIIFB.