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Thiruvananthapuram
A little over four months ago Kerala Governor P Sathasivam had credited the then Oommen Chandy-led state government with doing a great job, but on Friday he flayed the same regime in his address to the Kerala assembly as the Left Democratic Front (LDF) has taken over the reins.
In his address, Sathasivam pointed out that the state is facing an acute financial crisis.
"My government is today facing the unenviable task of steering the state out of this. The entire borrowing ceiling now permitted by the central government is just sufficient to meet the day to day expenditure of the state government,"said Sathasivam.
"To mobilise borrowings from abroad, two of our financial institutions will be restructured as non-banking financial companies and aligned in compliance of Security and Exchange Board of India and Reserve Bank of India regulations,"he added.
The government is also getting ready with a new IT policy. The address also mentioned a possible change in the liquor policy of the Chandy government which now allows the functioning of bars in around 27 five-star hotels.
"My government is of the view that restrictions on consumption of liquor have not yielded the desired positive impact. The opinion of all sections of the society will be taken into account before my government formulates its policy stand,"he said.
He concluded by saying that the promises that have been made to the people have to be fulfilled.
