Thiruvananthapuram: The growing price of petroleum products may have caused heartburn among citizens, but not everyone stands to lose to this price increase.
The Kerala Infrastructure Investment Board (Kiifb) received Rs 1,921.11 Crore, as part of petroleum received by Kerala, until March 31, 2020.
In accordance with the Annual Report KIIFB (2019-20), the Government provides RS 3.651.74 Crore from motor vehicle tax and Rs 2,634.52 Crore as a grant for Kiifb in that period.
In accordance with the Kiifb Law (Amendment), 2016, the government has distinguished 10% of motorized vehicle taxes in 2016-17, increasing 10% every year to reach 50% in the fifth year, for Kiifb.
CS charged on gasoline and diesel is also given to Kiifb, before 31 DES every year and paid by Escrow from the Treasury State to the KIIFB account automatically.
And RS 8,207.07 Crore was transferred to Kiifb by the government under three heads until March 31, 2020, according to the audit report.
Kiifb is authorized to take advantage of the loan period from various banks to RS 5000 Crore.
Thus, the term loan available by Kiifb on March 31, 2020 is Rs 3,015 Crore.
He has received Rs 5,036.60 Crore from various loans from banks, KSFE bonds, masala bonds and loans from NorKa in the same period.
At the same time, he had disbursed Rs 4,036.7 Crore from Rs 13,243.67 Crore received through petroleum, motor vehicle tax, grant, loan and masala period, for various projects, in the same period.
Until May this year, Kiifb has approved 903 projects with RS 63,224.42 Crore expenditure.
These projects consist of physical and social infrastructure in various sectors including hospitals and health centers, schools and colleges, roads and bridges, water supply and sanitation, electricity and communication networks, industrial columns, 488 this project, 488.
RS 21,309 , 68 crores were tendered and 27 projects, worth RS 732 Crore, and 160 components of the project worth RS 560.29 Crore were assigned.
After agreeing to many projects, Kiifb is in the process of cutting several non-starter projects from the approved list.
In the case of the KSRTC, the crunch funds encouraged Kiifb to return to its original promises to fund the purchase of 1,000 buses, limiting itself to only 300.
Audit Report (2019-20) also stated that the controversy about the CAG audit only had helped bring more clarity on the aspect of the KIFB audit , “The subject of the Kiifb audit by CAG has been in the news for several months in 2019.
It has brought a lot of clarity about this problem.
What Kiifb emphasized is that the audit is below section 14 (1) read with 14 (2) and (3) ) Act CAG (Task and Powers), 1971 Is the endow cag full and unlimited power to conduct a comprehensive audit of Kiifb “the report said.