State not in a debt trap, claims Thomas Isaac

Tuesday, July 19, 2011: Responding to the white paper presented by Congress led UDF government in Kerala on Tuesday, Former finance minister and CPM legislator Thomas Isaac claimed that the state was not in a debt trap.

Speaking to the reporters at a press meet held here, Issac added that the financial situation of Kerala was better during the previous LDF government’s rule and the white paper clearly points out this.

Meanwhile the revenue deficit has increased during the UDF rule, he added. Issac opined that he would be present an alternative white paper before the assembly on Wednesday.

State not in a debt trap, says Thomas Issac Former Minister

Friday, June 24, 2011: Former finance minister and CPI-M legislator Thomas Isaac refuted Governor RS Gavai’s claim that Kerala was in a financial crisis. Speaking to the reporters here on Friday, Issac added that the UDF government was trying to sabotage the welfare schemes in the State.

“I demitted office with a treasury balance of Rs.2,000 crores and what more do they need to make a beginning? It is foolish to say that the state is in a debt trap,” said Issac.