Kerala FM Thomas Isaac hits out at CAG for faulting KIIFB

Kerala Finance Minister Thomas Isaac on Saturday lashed out at CAG for its "findings" in its draft report that Kerala Infrastructure Investment Fund Board (KIIFB) was raising loans "unconstitutionally."

Dismissing findings, Isaac told reporters here that state government will t allow Comptroller and Audit General(CAG) to destroy KIIFB, primary ncy of state government for financing large and critical infrastructure projects in state,

y (CAG) claim that KIIFB loans are unconstitutional. Since 1999, CAG h audited KIIFB nine times and prepared audit report.This allegation was t raised anytime before this.

Indian Constitution is t a book which can be interpreted by any person, appointed as CAG, according to his political leanings,Isaac told reporters here.

CAG auditing for this year began in January and all documents sought were submitted, he said, ding 76 audit queries were raised by AG's office and detailed replies were given.Pointing out that KIIFB was a corporate body and like any or such institutions, he said it h right to raise loans as per existing rules.

Corporate bodies of central government have also availed such loans,he claimed.

CAG observation that KIIFB violates Article 293(1) of Indian Constitution was baseless,he said.

Article deals with loans of state government.

state government requires permission of centre for taking loans. But in this case, it's a corporate body that is taking loan and t state government, minister said.Isaac also hit out at Enforcement Directorate (ED) for bringing under its scanner various prestigious projects of left government like Life Mission, K-FON, e-Mobility.

Meanwhile, leer of Opposition in state assembly Ramesh Chennithala attacked Isaac formaking public details of draft CAG report before it was tabled in assembly.

ting that findings of a CAG report comes in public domain only after it is tabled in House, he alleged that this was first time a minister h released details of a CAG report concerning his ministry through a press conference before its tabling.

Accusing Isaac of violating rules of legislature, Chennithala said he will move breach of privilege tice against minister.