kiifb act, 2016
You have reached your weekly free article limit. Offer closes soon. May 11, 2016 [S. 1890] kgrant on DSKB33CYQ1 with PUBLAW VerDate Mar 15 2010 22:23 Jun 08, 2016 Jkt 059139 PO 00153 Frm 00002 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL153.114 PUBL153 Nearly half of this amount will be utilised for building roads, bridges and flyovers. With new strategy and structure, KIIFB aims to dynamically mobilise funds for the infrastructure development of Kerala. "This KIIFB advertisement has cost the state exchequer a staggering Rs four crores, when the state is passing through one of its worst financial crisis. ... KIIFB is the first sub-sovereign entity in India to access the international debt capital markets in this manner. . The main intention of the Fund was to provide investment for critical and large infrastructure projects in the State of Kerala. This also includes major land acquisition needs of the State. Modern Slavery Act Statement. “We are not going to sit idle for three years. We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. And it has every reason to smile. Many of the hit Hindi movies today are remakes from the four South Indian film industries. According to a white paper tabled in the State assembly in June this year, Kerala’s finances are alarming and there is a need to ensure 20-25 per cent annual growth in tax collection for the next five years. Thiruvananthapuram: Two-time former Kerala Chief Minister Oommen Chandy on Wednesday said that the flagship project of State Finance Minister Thomas Issac, the Kerala Infrastructure Investment Fund Board (KIIFB), was nothing but a bluff as the 'announcements made on the project and the reality do not match at all'. Avail Invitation Pricing Now Secrets Act of 2016. The KIIFB is a government owned financial institution formed to mobilise funds for infrastructure development from outside the state revenues. Follow us on Telegram, An actual ACT English Test contains 75 questions to be answered in 45 minutes. Even though Kerala is a revenue-deficit State now, it will become a revenue-surplus State in six financial years. Kerala Infrastructure Investment Fund Board (KIIFB), a statutory body under Finance Department, Government of Kerala is constituted under the ‘Kerala Infrastructure Investment Fund Act, 1999’ (Act 4 of 2000). © Copyright Mathrubhumi 2020. The advantage that the KIIFB enjoys over private companies while seeking to raise money from the market is that it has the guarantee of the government behind it. 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Healing the Ganga can start in your kitchen, says Bidisha Banerjee, whose new book explores the faith and ... Puneet Krishna, the creator of Mirzapur, on the second season of the popular web show on Amazon Prime Video, The expression remains democratic but the tools are becoming programmatic, Assessing the party on differentiation, relevance, esteem and knowledge reveals useful insights, Why this quaint Belgian detective is such an enduring brand, even a 100 years later. We promise to deliver quality journalism that stays away from vested interest and political propaganda. The Finance Minister appears to be saying that he has a “magic lamp” to repay loans, he added. "Since 2016 (when Issac took over as the Minister) till now the KIIFB was able to raise Rs 15,315.25 crores, of which only Rs 5,957.96 crores have been utilised in various announced projects. You have reached your limit for free articles this month. With Kerala facing a financial crisis, the CPI (M)-led LDF government in the State is planning to raise funds from outside the budget to boost investment. 18 USC 1 note. The countrywide lockdown from March last week impacted both producers and processors badly. Be aware of the writing style used in each passage. Experience cleaner site with zero ads and faster load times. As a subscriber, you are not only a beneficiary of our work but also its enabler. Taxes on ... Planning to exchange old gold for new this festival season? Consider the elements of writing that … The board will have eminent persons on it so that confidence is generated in the market about the projects for which money is sought to be raised. Chandy alleged that Issac is borrowing from all quarters while the total public debt as in 2015-16 (when Chandy demitted office) was Rs 1,57,370.33 crores. Given this, a mere assurance from the Finance Minister that the government would be able to repay KIIFB borrowings does not pass muster. Your support for our journalism is invaluable. Once U.S. leaves, Pakistan will gain more space in Afghanistan, says Ata Mohammad Noor, Evidence of dairy production in the Indus Valley Civilisation, Loan interest waiver to be credited by November 5, 16-year-old girl shot dead at home in U.P. However, we have a request for those who can afford to subscribe: please do. The government had recently amended the KIIFB Act through an ordinance to raise funds to the tune of ₹50,000 crore outside the budget for taking up infrastructure projects. Or click on Free Trial to get 14 days free trial. "Since 2016 (when Issac took over as the Minister) till now the KIIFB was able to raise Rs 15,315.25 crores, of which only Rs 5,957.96 crores have been utilised in various announced projects. village. Printable version | Oct 26, 2020 6:10:14 AM | The KIIFB is a statutory body constituted through the Kerala Infrastructure Investment Fund Act, 1999. The State government has already said basic infrastructure works worth ₹12,000 crore would be carried out using funds mobilisation through KIIFB. Linkedin. The ad claims that 730 projects of varying sizes and shapes costing Rs 57,000 crores have been sanctioned," said Chandy. The minister has been highlighting the project frequently. Two thirds of the projects announced in 2016 are yet to get sanction and those projects which have begun, are now moving at a snail's pace. Get diverse set of perspectives from our trusted experts on Portfolio, Banking, Economy, Environment and others. As per KIIFB (amendment) Act, 2016, the government has set apart 10% of motor vehicle tax in 2016-17 as grant for KIIFB, increasing it by 10% every year till it reaches 50% in the fifth year. A 6-km run, gluten-free diet & some cycling : Yash Miglani, Managing Director, Migsun Group1. These bean-shaped earphones are unique and work best with a Samsung smartphone. Facebook, Twitter, Instagram, YouTube and Earlier, responding to queries raised by the Opposition, Finance Minister T.M. In reply to a question, Dr. Isaac said there would be a government agency to check the feasibility of projects that are submitted to the KIIFB. 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