States » SouthPosted at: Oct 17 2026 6:55AM


Where did Rs 23,000 crore go? Kerala CM challenges Opposition over KIIFB accounts

Thiruvananthapuram, Oct 17 (UNI) Kerala Chief Minister V.D. Satheesan has demanded answers from Leader of the Opposition Pinarayi Vijayan and former Finance Minister K.N. Balagopal over the apparent discrepancy between the ₹30,000 crore claimed to be held by the Kerala Infrastructure Investment Fund Board (KIIFB) and its recorded investments of ₹6,521 crore as of March 31, 2026.
The Chief Minister questioned how the amount cited by former Finance Minister Thomas Isaac could differ so sharply from the figures available in KIIFB’s audit records. He also pointed out that the infrastructure funding agency had outstanding debt liabilities of around ₹32,000 crore.
The controversy erupted after the release of a committee report on a comprehensive review of KIIFB, following which Isaac claimed at a press conference that the board had ₹30,000 crore in cash and investments. He also alleged that the present government was eyeing these funds.
However, KIIFB’s audit records available on its website show a total balance of ₹10,633 crore as of March 31, 2026. Of this, ₹4,128 crore represents the government’s treasury corpus fund, leaving investments of ₹6,521 crore, according to the figures cited by Satheesan.
Against this backdrop, the Chief Minister sought an explanation for the difference of nearly ₹23,000 crore between Isaac’s claim and the investment figure reflected in the records.
Satheesan asked Vijayan, who had served as KIIFB chairman during the previous government, and Balagopal to clarify the board’s financial position and account for the discrepancy.
UNI DS
Tags: #Where did Rs 23#000 crore go? Kerala CM challenges Opposition over KIIFB accounts
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