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Kerala seeks loan waiver worth Rs.2,298 crore

Chief Minister Oommen Chandy on Thursday met Union Finance Minister Arun Jaitley and sought a waiver of consolidated loan outstanding worth Rs.2,298 crore to help the State get over its present financial crunch and achieve the goals of fiscal consolidation. Mr. Chandy, who is Delhi to lobby for several Kerala issues, said the Finance Ministry had earlier identified Kerala, Punjab, and West Bengal as debt-stressed States. A committee, referred to as the KPW Committee, had been appointed to suggest ways for improving the fiscal situation of these States.

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